Cannabis Investment Weighs on Constellation’s Latest Results

By Dave Sebastian and Vipal Monga Updated Oct. 3, 2019 8:50 am ET Constellation Brands Inc. swung to a loss in the latest quarter as the company continued to struggle with its big investment in cannabis.

Shares of Constellation fell 3.3% in premarket trading. As of Wednesday’s close, shares are up nearly 29% so far this year. Constellation said it expects full-year per-share earnings to be between 55 cents and 75 cents, compared with its previous guidance of between $4.95 and $5.25. Excluding results from Canopy, the company boosted its adjusted-earnings guidance to between $9 a share and $9.20 a share from between $8.65 a share and $8.95 a share.

For the full year, the company affirmed its expectations for beer sales to rise 7% to 9% in fiscal 2020. It softened its outlook on the decline in wine and spirits sales to between 15% and 20% from between 20% and 25%.

All alcohol is bad for your health there is no need to use alcohol hard liquor wine or beer

they should of know better then invest there money into dope! but what do you expect from mexican's they love there dope

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Sumber: Reuters - 🏆 2. / 97 Baca lebih lajut »