Jim Cramer: Constellation stock would be much higher if it listened to me on wine and spirits
Publishing timestamp: 2024-01-08 12:39:55
Summary
Constellation Brands reported mixed fiscal 2024 third-quarter results, with strong performance in the Beer segment but disappointing results in the Wine & Spirits segment. The company raised its full-year earnings and cash flow outlook but cut its financial outlook for the Wine & Spirits segment. Jim Cramer has been advocating for the company to focus on its beer business and divest its underperforming Wine & Spirits business. The CEO of Constellation Brands stated that weight-loss drugs have had little impact on the company, but acknowledged challenges in the wine industry.
Sentiment: MIXED
Tickers: STZ,
Keywords: jim cramer, constellation brands inc, business news, markets, breaking news: markets, earnings, investment strategy, stock takes, investingclubsample,