Expands Board to 7 Directors NEW YORK, May 31, 2024 /PRNewswire/ - Ascend Wellness Holdings, Inc. ("AWH," "Ascend," or the "Company") (CSE: AAWH.U) (OTCQX: AAWH), a vertically integrated multi-state cannabis operator focused on bettering lives through cannabis, is pleased to announce the appointment of Julie Francis to its Board of Directors, effective June 3, 2024. Ascend Wellness Holdings Announces Appointment of Julie Francis to Board of Directors (CNW Group/Ascend Wellness Holdings, Inc.) With Ms. Franc ...

VICTOR, N.Y., May 17, 2024 (GLOBE NEWSWIRE) -- Constellation Brands, Inc. (NYSE: STZ), a leading beverage alcohol company, announces an updated time that Bill Newlands, President and Chief Executive Officer, and Garth Hankinson, Executive Vice President and Chief Financial Officer, will participate in a previously announced fireside chat at the Bernstein 40th Annual Strategic Decisions Conference on Wednesday, May 29, 2024 in New York, NY. The presentation is scheduled to begin at 4:30 p.m. EDT and is expec ...

VICTOR, N.Y., May 17, 2024 (GLOBE NEWSWIRE) -- Constellation Brands, Inc. (NYSE: STZ), a leading beverage alcohol company, announces an updated time that Bill Newlands, President and Chief Executive Officer, and Garth Hankinson, Executive Vice President and Chief Financial Officer, will participate in a previously announced fireside chat at the Bernstein 40th Annual Strategic Decisions Conference on Wednesday, May 29, 2024 in New York, NY. The presentation is scheduled to begin at 4:30 p.m. EDT and is expec ...

Constellation Brands (NYSE: STZ) is a leading international producer and marketer of beer, wine, and spirits with operations in the U.S., Mexico, New Zealand, and Italy. Our mission is to build brands that people love because we believe elevating human connections is Worth Reaching For. It's worth our dedication, hard work, and calculated risks to anticipate market trends and deliver more for our consumers, shareholders, employees, and industry. This dedication is what has driven us to become one of the fas ...

VICTOR, N.Y., May 16, 2024 (GLOBE NEWSWIRE) -- Constellation Brands, Inc. (NYSE: STZ), a leading beverage alcohol company, announced today that Bill Newlands, President and Chief Executive Officer, and Garth Hankinson, Executive Vice President and Chief Financial Officer, will participate in a fireside chat at the Bernstein 40th Annual Strategic Decisions Conference on Wednesday, May 29, 2024 in New York, NY. The presentation is scheduled to begin at 2:30 p.m. EDT and is expected to cover the company's stra ...

Constellation Brands Inc. (STZ) continues to gain from strength in the beer business, as well as its premiumization strategy. The beer business has been gaining from the robust performances of Modelo Especial, the Modelo Chelada brands, Corona Extra and Pacifico.STZ's beer business showcased an impressive performance, with notable growth in shipment volumes and depletions in fourth-quarter fiscal 2024, indicating a strong and consistent demand for its products. This achievement is particularly significant, ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended February 29, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-08495 CONSTELLATION BRANDS, INC. (Exact name of registrant as specified in its charter) Delaware 16-0716709 (State ...

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VICTOR, N.Y., April 18, 2024 (GLOBE NEWSWIRE) -- Constellation Brands, Inc. (NYSE:STZ), a leading beverage alcohol company, announced today that its indirect, wholly-owned subsidiaries, Greenstar Canada Investment Limited Partnership ("Greenstar") and CBG Holdings LLC ("CBG"), have converted (the "Conversion") their common shares ("Common Shares") of Canopy Growth Corporation ("Canopy") into non-voting and non-participating exchangeable shares of Canopy ("Exchangeable Shares"). The amendment to Canopy's sha ...

Financial Data and Key Metrics Changes - The company reported a comparable earnings per share (EPS) growth of nearly 9% for fiscal 2024, exceeding the guidance range of $12 to $12.20, with a final EPS of $12.38 [81] - Net sales increased by 5% at an enterprise level, driven by a strong performance in the Beer Business, which saw net sales growth of over 9% [10][57] - Comparable operating income rose by 7%, resulting in a comparable operating margin of 32.6%, a 50-basis-point increase from the previous year [60][81] Business Line Data and Key Metrics Changes - The Beer Business delivered net sales and operating income growth above 9% and 8% respectively, contributing significantly to overall performance [14] - The Wine & Spirits business experienced declines of approximately 8% for both organic net sales and operating income, attributed to challenging market dynamics [35][76] Market Data and Key Metrics Changes - The Beer Business captured an impressive two points of dollar share within the US beer category, with Modelo Especial becoming the number one beer in US dollar sales [15][16] - International markets saw a 7% decline in net sales due to destocking, particularly in Canada, but Q4 showed a recovery with a 14% growth in net sales from international markets [69] Company Strategy and Development Direction - The company aims to maintain 6% to 8% enterprise net sales growth and achieve low-double-digit comparable EPS growth in fiscal 2025 [13][55] - A new President of Wine & Spirits has been appointed to enhance execution and drive growth, focusing on key brands that represent three-quarters of net sales [17][36] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in delivering strong enterprise results aligned with medium-term targets despite challenges in the Wine & Spirits segment [48][55] - The company anticipates free cash flow in fiscal 2025 to be between $1.4 billion and $1.5 billion, reflecting ongoing investments in brewery expansions [39][40] Other Important Information - The company generated $2.8 billion in operating cash flow and returned over $900 million to shareholders through dividends and share repurchases [20][75] - The company has set a new environmental goal of restoring more than 5 billion gallons of water to key watersheds between fiscal 2023 and 2025 [54] Q&A Session Summary Question: Inquiry about gross margin and shipment context - Management noted a write-off of a bad accrual impacting Q4 operating margin by about 100 basis points, with minimal impact from the Aguas Frescas launch [45] Question: Future expectations for fiscal 2025 - Management expressed confidence in delivering against the plan with strong enterprise results and capital allocation priorities [48] Question: Discussion on promotional pressures and inventory levels - Management acknowledged challenges in the promotional environment and noted ongoing efforts to manage inventory levels effectively [124] Question: Insights on commodity input inflation and operating profit - Management highlighted that while commodity prices have stabilized, they remain higher than historical norms, impacting margins [143]