Business Context and Reporting Period
Company: Constellation Brands, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: January 6, 2005
Reporting Period: Third quarter ended November 30, 2004
This filing serves to announce the Company's results of operations and financial condition for the third quarter of 2004 via a press release incorporated by reference as Exhibit 99.1.
Key Financial Metrics
The provided text is a cover document for the Form 8-K and does not contain specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. These figures are contained within the attached press release (Exhibit 99.1), which is not included in the input text.
Non-GAAP Measures: The filing notes the use of "comparable" measures (non-GAAP) to evaluate underlying business trends. These measures exclude:
- Inventory step-up costs associated with acquisitions.
- Imputed interest charges related to the acquisition of BRL Hardy Limited (Hardy Wine Company Limited).
- Financing costs.
- Restructuring, integration, and related charges (including exiting the U.S. commodity concentrate product line).
- Gains on changes in fair value of derivative instruments.
- Relief from certain excise tax, duty, and other costs incurred in prior years.
Material Changes
The filing text does not provide specific data on material changes versus the prior comparable period. It references the press release for the detailed results of operations.
Guidance, Outlook, and Risks
Guidance: The press release includes projections constituting guidance. The Company explicitly states that these projections involve risks and uncertainties, and actual results may vary materially from forecasts.
Forward-Looking Statements: Investors are directed to the "Forward-Looking Statements" section of the press release for details on risks.
Regulatory Status: The information in this Item 2.02 and the attached release is "furnished" and not "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, limiting liability under that section.
Investor Verification Checklist
- Review the full text of the press release (Exhibit 99.1) for specific revenue, earnings, and cash flow figures, as they are not present in this summary document.
- Examine the reconciliation tables in the press release to understand the adjustments made to derive "comparable" non-GAAP measures from GAAP results.
- Verify the specific risks and uncertainties outlined in the "Forward-Looking Statements" section of the press release regarding the Company's guidance.
- Confirm the impact of the exit from the U.S. commodity concentrate product line on restructuring charges.