Constellation Brands, Inc. (STZ)

F2Q09 Earnings Call

Filed under: Earnings reports, Apple Inc (AAPL), Intel (INTC), International Business Machines (IBM), Walgreen Co (WAG), Circuit City Stores (CC), Family Dollar Stores (FDO), Marriott Intl'A' (MAR)

Here are some highlights from this past week's earnings coverage from BloggingStocks:

• Apple Inc. (NASDAQ: AAPL) earnings prospects may suffer if holiday sales are poor.
• Circuit City Stores Inc. (NASDAQ: CC) disappointing results were followed by a restructuring announcement.
• Conexant Systems Inc. (NASDAQ: CNXT) raised its guidance, send shares up sharply.
• Constellation Brands Inc. (NYSE: STZ) posted a Q2 loss due in part to restructuring Australian operations.
• Con-Way Inc. (NYSE: CNW) reduced Q3 guidance resulted in an analyst downgrade.
• Family Dollar Stores Inc. (NYSE: FDO) reported better-than-expected Q4 earnings, sending shares higher.
• Intel Corp. (NASDAQ: INTC) Q3 earnings prospects led to an analyst's upgrade.
• International Business Machines Corp. (NYSE: IBM) fell on rumors it would miss earnings estimates.
• Marriott International Inc. (NYSE: MAR) Q3 profits fell and it warned of challenges through 2009.
• Mosaic Co. (NYSE: MOS) fell short of expectations and warned of a production slowdown.
• Nabors Industrial Ltd. (NYSE: NBR) warning about earnings led shares near a new low.
• Pepsi Bottling Group Inc. (NYSE: PBG) beat Q3 expectations despite struggling with economic woes.
• Philips Electronics (NYSE: PHG) earnings prospects led to an analyst's downgrade.
• UBS (NYSE: UBS) said it expects to return to profitability after four straight quarterly losses.
• Walgreen Co. (NYSE: WAG) Q4 earnings fell short of expectations, though sales increased.

Also, Jim Cramer reminds us that earnings still matter. Changing accounting rules may affect the earnings of big banks.

Upcoming quarterly reports include Alcoa Inc. (NYSE: AA), Safeway Inc. (NYSE: SWY), Yum! Brands Inc. (NYSE: YUM), Costco Wholesale Corp. (NASDAQ: COST), Monsanto Co. (NASDAQ: MON), General Electric Co. (NYSE: GE).

Visit AOL Money & Finance for more earnings coverage.

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Filed under: Earnings reports, Apple Inc (AAPL), Intel (INTC), International Business Machines (IBM), Walgreen Co (WAG), Circuit City Stores (CC), Family Dollar Stores (FDO), Marriott Intl'A' (MAR)

Here are some highlights from this past week's earnings coverage from BloggingStocks:

• Apple Inc. (NASDAQ: AAPL) earnings prospects may suffer if holiday sales are poor.
• Circuit City Stores Inc. (NASDAQ: CC) disappointing results were followed by a restructuring announcement.
• Conexant Systems Inc. (NASDAQ: CNXT) raised its guidance, send shares up sharply.
• Constellation Brands Inc. (NYSE: STZ) posted a Q2 loss due in part to restructuring Australian operations.
• Con-Way Inc. (NYSE: CNW) reduced Q3 guidance resulted in an analyst downgrade.
• Family Dollar Stores Inc. (NYSE: FDO) reported better-than-expected Q4 earnings, sending shares higher.
• Intel Corp. (NASDAQ: INTC) Q3 earnings prospects led to an analyst's upgrade.
• International Business Machines Corp. (NYSE: IBM) fell on rumors it would miss earnings estimates.
• Marriott International Inc. (NYSE: MAR) Q3 profits fell and it warned of challenges through 2009.
• Mosaic Co. (NYSE: MOS) fell short of expectations and warned of a production slowdown.
• Nabors Industrial Ltd. (NYSE: NBR) warning about earnings led shares near a new low.
• Pepsi Bottling Group Inc. (NYSE: PBG) beat Q3 expectations despite struggling with economic woes.
• Philips Electronics (NYSE: PHG) earnings prospects led to an analyst's downgrade.
• UBS (NYSE: UBS) said it expects to return to profitability after four straight quarterly losses.
• Walgreen Co. (NYSE: WAG) Q4 earnings fell short of expectations, though sales increased.

Also, Jim Cramer reminds us that earnings still matter. Changing accounting rules may affect the earnings of big banks.

Upcoming quarterly reports include Alcoa Inc. (NYSE: AA), Safeway Inc. (NYSE: SWY), Yum! Brands Inc. (NYSE: YUM), Costco Wholesale Corp. (NASDAQ: COST), Monsanto Co. (NASDAQ: MON), General Electric Co. (NYSE: GE).

Visit AOL Money & Finance for more earnings coverage.

Filed under: Earnings reports, Marriott Intl'A' (MAR)

On Thursday, Marriott International Inc. (NYSE: MAR) said its third-quarter earnings fell 28% and warned of deteriorating conditions for 2009, and Constellation Brands Inc. (NYSE: STZ) posted a loss of nearly $23 million in its fiscal second quarter due to charges to reduce operations in Australia.

For the quarter ended Sept. 5, Marriott's net income slipped to $94 million, or 26 cents per share. Excluding a $29 million tax planning charge, adjusted income from continuing operations totaled $123 million, or 34 cents per share. Revenue rose 1% to $2.96 billion.

Analysts surveyed by Thomson Reuters had expected earnings of 32 cents per share on revenue of $2.95 billion.

Marriott said its revenue per available room declined in North America, and timeshare sales evaporated due to the tight credit market and cutbacks in business and consumer spending.

The Bethesda, Md.-based hotel company lowered its full-year 2008 earnings guidance to $1.62 to $1.68 per share, from its previous guidance of $1.77 to $1.88 per share. Analysts had forecast 2008 profit of $1.78 per share. For 2009, Marriott said the outlook is uncertain, but it expects the environment to remain challenging. Marriott said it will focus on cash flow by trimming investments and share repurchases.

Marriott shares fell $1.34, or 5.3%, to $23.74 Thursday. The stock price is down 30.5% year to date.

For the quarter ended Aug. 31, Constellation Brands reported a loss of $22.7 million, or 11 cents per share, compared with earnings of $72 million, or 33 cents a share, a year earlier.

Excluding $129 million of charges and write-downs associated mainly with an effort in August to restructure Australian operations, its net income rose 28% to $99 million, or 45 cents a share. Net sales rose 7% to $956.5 million after excise taxes. Analysts surveyed by Thomson Reuters expected earnings of 44 cents a share and revenue of $964.5 million.

The wine and spirits maker maintained its full-year outlook of $1.68 to $1.76 per share profit. Analysts, on average, expect a profit of $1.72.

On Thursday, shares fell $1.90, or 8.8%, to $19.73. The stock is down 16.5% year to date.

Visit AOL Money & Finance for more earnings coverage.

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Filed under: Earnings reports, Marriott Intl'A' (MAR)

On Thursday, Marriott International Inc. (NYSE: MAR) said its third-quarter earnings fell 28% and warned of deteriorating conditions for 2009, and Constellation Brands Inc. (NYSE: STZ) posted a loss of nearly $23 million in its fiscal second quarter due to charges to reduce operations in Australia.

For the quarter ended Sept. 5, Marriott's net income slipped to $94 million, or 26 cents per share. Excluding a $29 million tax planning charge, adjusted income from continuing operations totaled $123 million, or 34 cents per share. Revenue rose 1% to $2.96 billion.

Analysts surveyed by Thomson Reuters had expected earnings of 32 cents per share on revenue of $2.95 billion.

Marriott said its revenue per available room declined in North America, and timeshare sales evaporated due to the tight credit market and cutbacks in business and consumer spending.

The Bethesda, Md.-based hotel company lowered its full-year 2008 earnings guidance to $1.62 to $1.68 per share, from its previous guidance of $1.77 to $1.88 per share. Analysts had forecast 2008 profit of $1.78 per share. For 2009, Marriott said the outlook is uncertain, but it expects the environment to remain challenging. Marriott said it will focus on cash flow by trimming investments and share repurchases.

Marriott shares fell $1.34, or 5.3%, to $23.74 Thursday. The stock price is down 30.5% year to date.

Continue reading Marriott Q3 profit declines, Constellation Brands posts a Q2 loss