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Stock impact report

Constellation Brands - Corona Crisis Hitting The Corona Brand Owner [Seeking Alpha]

Constellation Brands, Inc. (STZ) 
Last constellation brands, inc. earnings: 4/3 07:30 am Check Earnings Report
US:NYSE Investor Relations: cbrands.com/investors
Company Research Source: Seeking Alpha
SummaryConstellation Brands has been a long term success, in part driven by the Corona beer brand.Ironically, the Corona crisis  and a leveraged balance sheet is weighing heavily on the prospects for the shares.With shares down nearly half from their high, expectations have been re-set in a big way, as levels start to look compelling here.Constellation Brands (STZStrong PerformerTo get a clue where Constellation Brands is standing, let´s look at the 2019resultsThe earnings number requires quite some explanation in part because of a $450 million goodwill impairment charge taken last year, as well as a huge loss recorded in the stake in Canopy. Excluding the goodwill impact, operating profits totaled $2.60 billion last year as the company reported a $429 million interest bill and a $74 million other gain as well. Normalizing this and assuming a 20% normalized tax rate, the company was able to report net earnings of $1.80 billion. With a diluted share count of 195 million shares, that wo Show less Read more
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