Business Context and Reporting Period
Company: Constellation Brands, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: January 5, 2022
Reporting Period: Third fiscal quarter ended November 30, 2021.
This filing serves to announce the Company's financial condition and results of operations for the third fiscal quarter of 2021, incorporating a news release issued on January 6, 2022, by reference.
Key Financial Metrics
The 8-K filing itself does not contain specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. These metrics are detailed in the attached news release (Exhibit 99.1), which is incorporated by reference. The filing notes that the release includes both GAAP and non-GAAP ("comparable" or "organic") financial measures, including the impact of the Company's equity method investment in Canopy Growth Corporation.
Material Changes and Dividend Declaration
Dividend Declaration: On January 5, 2022, the Board of Directors declared a quarterly cash dividend payable on February 23, 2022, to stockholders of record as of February 9, 2022. The declared amounts are:
- Class A Common Stock: $0.76 per share
- Class B Common Stock: $0.69 per share
- Class 1 Common Stock: $0.69 per share
Financial Results: Specific material changes in revenue or earnings compared to the prior period are not listed in this text; investors must refer to the attached news release for year-over-year comparisons.
Guidance, Outlook, and Risks
The filing states that the news release contains forward-looking statements and guidance involving risks and uncertainties. Management cautions that actual results may vary materially from these forecasts. The release includes reconciliations of non-GAAP measures to GAAP measures as required by Regulation G. The filing explicitly disclaims the incorporation of information from the Company's website or social media platforms.
Investor Verification Checklist
- Review the attached news release (Exhibit 99.1) for specific Q3 2021 revenue, net income, and cash flow figures.
- Verify the reconciliation between non-GAAP "organic" measures and GAAP financial measures in the news release.
- Confirm the impact of the equity method investment in Canopy Growth Corporation on reported results.
- Check the specific forward-looking guidance and risk factors detailed in the January 6, 2022 release.
- Ensure dividend payment dates and record dates align with the declared schedule (Record: Feb 9, 2022; Payable: Feb 23, 2022).