Business Context and Reporting Period
Company: Constellation Brands, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: April 6, 2022
Reporting Period: Fiscal year and fourth quarter ended February 28, 2022.
This filing serves to announce the Company's financial condition and results of operations for the period ended February 28, 2022, via a news release issued on April 7, 2022 (Exhibit 99.1). The filing also includes a declaration of a quarterly cash dividend.
Key Financial Metrics
The specific numerical values for revenue, profit, cash flow, margins, debt, and liquidity are not contained within the text of this Form 8-K. These figures are detailed in the attached news release (Exhibit 99.1), which is incorporated by reference. The filing notes that the release contains 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 Events
- Dividend Declaration: On April 6, 2022, the Board of Directors declared a quarterly cash dividend payable on May 19, 2022, to stockholders of record as of May 5, 2022.
- Dividend Amounts:
- Class A Common Stock: $0.80 per share
- Class B Convertible Common Stock: $0.72 per share
- Class 1 Convertible Common Stock: $0.72 per share
- Financial Results: The filing references the announcement of results for the fiscal year and fourth quarter ended February 28, 2022, but does not list specific year-over-year changes in this document.
Guidance, Outlook, and Risks
The filing states that the news release includes projections and guidance. Management cautions that these forward-looking statements involve risks and uncertainties, and actual results may vary materially from forecasts. Investors are directed to the "Forward-Looking Statements" section of the attached release for details on these risks. The filing explicitly disclaims the incorporation of information from the Company's website or social media platforms.
Investor Verification Checklist
- Review Exhibit 99.1 (News Release dated April 7, 2022) for specific revenue, net income, and cash flow figures for the fiscal year and Q4 ended February 28, 2022.
- Verify the reconciliation of non-GAAP "comparable" or "organic" measures to GAAP measures as provided in the news release.
- Confirm the record date (May 5, 2022) and payment date (May 19, 2022) for the declared dividends.
- Examine the "Forward-Looking Statements" section in the news release for specific risks related to the Company's guidance and the Canopy Growth Corporation investment.