Constellation Brands Reports Quarterly Earnings
Constellation Brands Inc, a leading beverage company, released its quarterly earnings report, which showed a decline in revenue compared to the same period last year.
The company’s revenue decreased by 5.5% year-over-year, primarily due to tariffs on aluminum and weak beer demand. This decline was particularly notable among Hispanic consumers, who make up a significant portion of Constellation Brands’ customer base.
As a result of the revenue decline, the company’s stock price experienced a slight decrease. However, Constellation Brands reaffirmed its full-year guidance, indicating a projected earnings per share range of $12.60-$12.90.
Key Financial Metrics
- Revenue decrease: 5.5% year-over-year
- Projected earnings per share: $12.60-$12.90
- Stock price movement:
- Notable increase on Wednesday following the release of the earnings report
- Subsequent decline on Thursday
Company Statement
Constellation Brands has reaffirmed its full-year guidance, indicating confidence in its business prospects despite the recent decline in revenue. The company’s shares have been volatile in recent days, reflecting market sentiment and investor reaction to the earnings report.