As Corona Ceases Production, Constellation Brands Reports Strong FY2020, Solid Alcohol Sales and Positive Outlook [Forbes]
Constellation Brands, Inc. (STZ)
Last constellation brands, inc. earnings: 4/3 07:30 am
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Source: Forbes
Bottles of Corona beerSOPA Images/LightRocket via Getty ImagesConstellation Brands, IncSTZreported strong results for Q4 and fiscal year 2020, with the alcohol beverage giant reported solid earnings and higher-than-expected profits and sales.Despite this, the company has pulled its fiscal year 2021 guidance, citing the uncertainty surrounding coronavirus as the cause.This news comes just hours after the news thatCorona will cease productionConstellation Brands, handling the US distribution of the beer, has assured they have 70 days worth of inventory. Despite the name affiliation between Corona and coronavirus, Corona has continued to be a top seller for Constellation Brands.Today In:The results were announced via conference call lead by Constellation Brands president and chief executive officer Bill Newlands and chief financial officer Garth Hankinson.“We’ve seen strong performance in FY2020, led by our beer business that generated double-digit operating income for the year,” says Ne
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- 4/19/24 - Form 144
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