Business Context and Reporting Period
Company: Constellation Brands, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: April 7, 2021
Reporting Period: Fiscal year and fourth quarter ended February 28, 2021.
This filing serves to announce the Company's financial condition and results of operations for the period ended February 28, 2021, via a news release issued on April 8, 2021 (Exhibit 99.1). The filing also discloses a quarterly cash dividend declaration.
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 includes both GAAP and non-GAAP ("comparable" or "organic") measures, including the impact of the equity method investment in Canopy Growth Corporation.
Material Changes and Events
- Dividend Declaration: On April 7, 2021, the Board of Directors declared a quarterly cash dividend payable on May 18, 2021, to stockholders of record as of May 4, 2021.
- Dividend Amounts:
- 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: The filing references the announcement of results for the fiscal year and fourth quarter ended February 28, 2021, but does not list specific year-over-year changes in this document.
Guidance, Outlook, and Risks
The filing incorporates by reference a news release containing forward-looking statements and guidance. Management explicitly states that these projections 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 also clarifies that non-GAAP measures are used by management to monitor core operations and the investment in Canopy Growth Corporation.
Investor Verification Checklist
- Review Exhibit 99.1 (News Release dated April 8, 2021) for specific revenue, net income, and cash flow figures for the fiscal year ended February 28, 2021.
- Verify the reconciliation of non-GAAP ("comparable" or "organic") measures to GAAP measures provided in the news release.
- Confirm the impact of the equity method investment in Canopy Growth Corporation on the reported results.
- Check the "Forward-Looking Statements" section in the news release for updated guidance and risk factors.
- Confirm dividend payment eligibility based on the record date of May 4, 2021.