Welcome to our dedicated page for Constellation Brands news (Ticker: STZ), a resource for investors and traders seeking the latest updates and insights on Constellation Brands stock.
Constellation Brands, Inc. (NYSE: STZ) is a leading international producer and marketer of beer, wine, and spirits with a remarkable presence in the U.S., Canada, Mexico, New Zealand, and Italy. The company is recognized as the third-largest producer and marketer of beer in the U.S. market and the global leader in premium wine. Their extensive portfolio includes renowned brands such as Corona Extra, Modelo Especial, Robert Mondavi, and SVEDKA Vodka.
Headquartered in Victor, NY, Constellation Brands is committed to building brands that people love, focusing on quality and consumer satisfaction. They generate approximately 80% of their revenue from Mexican beer imports, making them a significant player in this segment. In addition to their prowess in beer, Constellation continues to innovate within the wine and spirits categories, enhancing their offerings with select premium brands.
Financially, Constellation Brands has shown impressive growth and profitability, bolstered by strategic partnerships and acquisitions. They own a 36% stake in Canopy Growth, a Canadian cannabis company, and have a joint venture with glass manufacturer Owens-Illinois. These strategic moves have positioned the company for continued growth and market leadership.
Constellation Brands is also dedicated to sustainability and ESG (Environmental, Social, and Governance) goals. Recently, they released their 2023 ESG Impact Report, highlighting achievements such as restoring over 1.1 billion gallons of water withdrawals, with a new target to restore 5 billion gallons by FY2025. They are also advancing their environmental stewardship with goals for zero waste certification and circular packaging by FY2025.
The company’s social initiatives include a $200 million investment in female- and minority-founded businesses within the beverage alcohol industry. They have formed impactful partnerships with organizations like Dress for Success and UnidosUS to support underserved communities.
Constellation Brands continues to enhance governance practices, including transitioning to a single class of common stock and refreshing their Board. These initiatives reflect their commitment to creating long-term value for shareholders while adhering to the highest standards of corporate governance.
For more detailed updates and financial results, please visit their official website and follow them on social media platforms like X, Instagram, and LinkedIn.
Constellation Brands has announced an accelerated share repurchase (ASR) agreement with Bank of America for $500 million of its Class A common stock. The company will receive approximately 1.7 million shares on April 8, 2022, representing about 80% of expected share repurchases. The total transaction is projected to complete by May 2022. This ASR utilizes cash on hand and will not affect the fiscal 2023 EPS guidance. The company retains approximately $2.6 billion in its current repurchase authorization.
Constellation Brands (NYSE: STZ, STZ.B) reported its fiscal year 2022 results, highlighting strong performance and a positive outlook for fiscal year 2023. Key metrics included a solid increase in revenue and robust growth in premium beer and wine segments. The company continues to expand its market presence internationally, emphasizing its commitment to innovation and brand development. A conference call was held on April 7, 2022, to discuss these results in detail and outline future strategies.
Constellation Brands has received a non-binding proposal from the Sands Family to declassify its common stock. The proposal suggests converting Class B shares into 1.35 Class A shares, maintaining the Sands Family as the largest shareholder. The Sands Family asserts this change will enhance market demand for the stock. A Special Committee has been formed to assess the proposal, requiring approval from the committee, the Board of Directors, and a majority of Class A shareholders not holding Class B shares for completion.
On March 14, 2022, SIMI Winery announced the launch of the Editor's Collection Rosé, created in collaboration with Reese's Book Club. This new rosé, retailing at $18.99, is a blend crafted from premium pinot noir grapes sourced across California, aiming to resonate with female audiences. The partnership, first introduced in November 2021, emphasizes narratives focusing on women, blending literature with wine enjoyment. A portion of profits will support literacy initiatives. Mallika Monteiro, EVP at Constellation Brands, expressed excitement about this celebratory collaboration.
Constellation Brands (NYSE: STZ, STZ.B) has announced the promotion of Kris Carey to Executive Vice President and Chief Human Resources Officer, effective May 9, 2022. Carey, who joined the company in 2013, succeeds Tom Kane, who will retire in May after a nine-year tenure. Carey will oversee HR support and global programs while ensuring a smooth transition with Kane. Constellation’s CEO, Bill Newlands, emphasized the importance of succession planning in maintaining the company's culture and talent investment.
Constellation Brands (NYSE: STZ, STZ.B) will report its financial results for the full fiscal year and Q4 on April 7, 2022, before U.S. markets open. The results pertain to the period ending February 28, 2022. A conference call led by CEO Bill Newlands and CFO Garth Hankinson will follow at 10:30 a.m. EDT. Interested parties can access the call via phone or listen to the live webcast on the company's website, where a replay will also be available. Constellation Brands continues to be a leader in the beverage alcohol industry, focusing on premium wine, beer, and spirits.
Constellation Brands has announced a leadership transition within its Beer Division effective January 24, 2022. Jim Sabia is promoted to Executive Vice President and President, Beer Division, while Paul Hetterich becomes Executive Vice President and Chair, Beer Division. Hetterich will oversee beer operations in Mexico and capital projects to meet rising consumer demand. The company emphasizes its ambition to maintain growth in the beer sector, highlighted by Modelo Especial as the #2 beer brand in the U.S. by dollar sales.
Constellation Brands (NYSE: STZ and STZ.B) announced its third quarter fiscal 2022 results on January 6, 2022. The company will hold a conference call at 10:30 a.m. EST to discuss the financial performance and future outlook. As a leader in the beverage alcohol market, Constellation Brands continues to grow, specializing in beer, wine, and spirits across the U.S., Mexico, New Zealand, and Italy, representing brands like Corona and Robert Mondavi. The full financial details are available in the accompanying PDF report.
Constellation Brands (NYSE: STZ, STZ.B) has announced a brand authorization agreement with The Coca-Cola Company to produce and market FRESCA™ Mixed cocktails in the U.S. set for launch this year. This innovative line of spirit-based, ready-to-drink cocktails taps into the $8 billion adult alternative beverage market, projected to grow at a CAGR of 15-17% over the next three years. FRESCA is currently the fastest-growing soft drink in Coca-Cola's portfolio, and this partnership aims to offer consumers a unique, flavorful cocktail experience.
Li-Cycle Holdings Corp. (NYSE: LICY) announced the appointment of Debbie Simpson as Chief Financial Officer (CFO), effective February 1, 2022. Simpson, who has over 30 years of experience in finance, will take over from retiring CFO Bruce MacInnis. Her previous roles include CFO at Maple Leaf Foods, where she was integral in securing over $2 billion in funding. Li-Cycle aims to expand globally in lithium-ion battery recycling, and Simpson's expertise is expected to drive growth and enhance shareholder value.
FAQ
What is the current stock price of Constellation Brands (STZ)?
What is the market cap of Constellation Brands (STZ)?
What products does Constellation Brands produce?
Where is Constellation Brands headquartered?
What is Constellation Brands' market position in the beer industry?
What are Constellation Brands' sustainability goals?
What social initiatives does Constellation Brands support?
How does Constellation Brands contribute to shareholder value?
Does Constellation Brands have any stake in the cannabis industry?
What are some of Constellation Brands’ premium brands?
What recent governance enhancements has Constellation Brands made?
How can I get the latest updates on Constellation Brands?
