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Constellation Brands - Consumer Goods | Beverages - Wineries & Distillers
Constellation Brands Slides After Profit Tumbles, Outlook Is Reduced
Shares of Constellation Brands Inc. (STZ - Get Report) slid more than 10% in early trading on Wednesday after the company announced a significant drop in profit related to its recent investment in Canadian marijuana producer Canopy Growth Corp. (CGC) and cut its profit outlook for fiscal 2019.
The beer, wine and spirits producer said Wednesday that net income for its fiscal quarter ended Nov. 30, fell to $303.1 million, or $1.56 a share, from $492.8 million, or $2.45 a share, a year earlier, thanks to higher freight and marketing costs as well as interest costs related to its investment in Canopy Growth.
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https://www.thestreet.com/investing/earn...yptr=yahoo
![[Bild: STZc1dl1123.png]](https://finviz.com/publish/010919/STZc1dl1123.png)
Constellation Brands Slides After Profit Tumbles, Outlook Is Reduced
Shares of Constellation Brands Inc. (STZ - Get Report) slid more than 10% in early trading on Wednesday after the company announced a significant drop in profit related to its recent investment in Canadian marijuana producer Canopy Growth Corp. (CGC) and cut its profit outlook for fiscal 2019.
The beer, wine and spirits producer said Wednesday that net income for its fiscal quarter ended Nov. 30, fell to $303.1 million, or $1.56 a share, from $492.8 million, or $2.45 a share, a year earlier, thanks to higher freight and marketing costs as well as interest costs related to its investment in Canopy Growth.
...
https://www.thestreet.com/investing/earn...yptr=yahoo
