economy
Modelo maker Constellation Brands withdraws 2028 guidance due to uncertainty
Modelo maker Constellation Brands withdrew its previously issued fiscal 2028 outlook on Wednesday and reported "subdued" demand across its categories.
TL;DR
- Constellation Brands withdrew its fiscal 2028 outlook.
- The company reported subdued demand due to a dynamic macroenvironment and consumer economic uncertainty.
- Constellation Brands exceeded Wall Street expectations for its fourth quarter and full fiscal year.
- Fourth quarter earnings per share were $1.90, beating expectations of $1.72.
- Fourth quarter revenue was $1.92 billion, exceeding expectations of $1.88 billion.
- Net income for the fourth quarter was $224.7 million, an improvement from a loss a year prior.
- The beer business remains a key growth area, though overall net sales for fiscal 2026 decreased by 3%.
- For fiscal 2027, adjusted EPS is expected to be between $11.20 and $11.90, below estimates of $12.36.
- Nicholas Fink was appointed as the new CEO, effective April 13.