Constellation Brands (STZ) Withdraws 2028 Guidance Amid Demand Concerns
Published on · Source: cnbc.com
AI Summary
Summarized by AI from the source belowConstellation Brands (STZ) withdrew its previously issued fiscal 2028 guidance on Wednesday, citing uncertainty in consumer demand amidst a rapidly evolving macroenvironment. For the fourth quarter, it reported adjusted earnings per share of $1.90, exceeding the $1.72 expectation, with revenue of $1.92 billion, also above expectations of $1.88 billion. The company's net income rose to $224.7 million compared to a loss of $370.6 million a year prior. However, net sales for fiscal 2026 decreased by 3%, and adjusted EPS for fiscal 2027 is projected to be between $11.20 and $11.90, below the $12.36 estimate.
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About Constellation Brands Inc. (STZ)
Constellation Brands is a producer of beer, wine, and spirits, including the U.S. rights to Modelo and Corona.
The Consumer Staples sector covers food, beverage and household-goods companies that tend to hold up in any economy.
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