Constellation Brands sees FY15 EBIT growth at or above sales growth Says working on doubling size of Nava, Mexico brewery. Says overall beer operations continue to run smoothly, beer expansion project remains on time. Says needs to increase the capital required to complete the brewery expansion to $600M from $500M. Says plans to execute price increases for select products in FY15 for its wine and spirits business. The company says it plans to limit marketing expense to grow in line with net revenue. Says does not yet know the potential overall impact from California drought and says it's too early to call. Says could source wine from around the world if drought conditions persist. Expects to maintain overall market share and grow EBIT on at or above sales growth on an organic basis in FY15. Expects operating cash flow to pass $1B mark in FY15. Comments made during the company's Q4 earnings conference call.
JPMorgan to hold a conference Global High Yield & Leveraged Finance Conference is being held in Miami Beach, FL on February 23-25 with webcasted company presentations to begin on February 24 at 7:40 am; not all company presentations may be webcasted. Webcast Link