Constellation Brands Q2 share of Canopy losses to be $54.3 million [MarketWatch]
Constellation Brands, Inc. (STZ)
Last constellation brands, inc. earnings: 4/3 07:30 am
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Source: MarketWatch
Constellation Brands Q2 share of Canopy losses to be $54.3 million Corona beer parent Constellation Brands Inc. STZ, -1.56% disclosed Monday that its share of Canopy Growth Corp.'s CGC, +1.41% WEED, -1.04% losses will be $54.3 million on a net basis, or $38.5 million on an adjusted basis including a tax benefit, which will be recognized in its fiscal second quarter ended Aug. 31. Constellation, which made a $4 billion investment in the Canada-based cannabis company last year, said it recognizes equity earnings from its equity-method investment in Canopy on a two-month lag. For the six month ended Aug. 31, Constellation said its share of Canopy losses was $132.5 million, or $77.3 million in an adjusted basis. Shares of Constellation rose 0.6% in premarket trading and Canopy's U.S.-listed stock was up 1.6%. Year to date, Constellation shares have run up 23.4% and Canopy's stock has lost 7.4%, while the ETFMG Alternative Harvest ETF MJ, +0.44% has slipped 0.6% and the S&P 50
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News
- Constellation Brands Announces Conversion of Common Shares and Exchange of Promissory Note Into Exchangeable Shares of Canopy Growth Corporation [Financial Post (Toronto, Ontario, Canada)]Financial Post
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STZ
Earnings
- 4/11/24 - Beat
STZ
Sec Filings
- 4/18/24 - Form 8-K
- 4/16/24 - Form 4
- 4/12/24 - Form 144
- STZ's page on the SEC website