Corona beer maker Constellation Brands slumps after annual forecast cut, drags rivals

Boston Beer

10/01/2025 17:30

(Updates)
    ** Beer maker Constellation Brands'  STZ.N  shares fall as
much as 14.7% to $187.01, hitting a more than four-year low
    ** Company cuts annual profit and sales forecasts on muted
demand for alcoholic beverages
    ** " ... continue to face subdued spend and value seeking
behaviors that emerged among legal drinking age consumers in
Q2," says CEO Bill Newlands
    ** Forecasts annual adj. EPS between $13.40 and $13.80 vs
prior forecast of $13.60 to $13.80
    ** Sees net sales growth in the range of 2% to 5% from 4% to
6% growth expected earlier
    ** STZ's results drags shares of rivals Brown-Forman
 BFb.N , Molson Coors  TAP.N  and Boston Beer  SAM.N  down
between 4% and 6%; U.S.-listed shares of Anheuser-Busch Inbev
 ABI.BR  also falls ~5%
    ** In 2024, STZ fell 8.6%

 (Reporting by Juveria Tabassum and Aamir Sohail in Bengaluru)
 ((Juveria.Tabassum@thomsonreuters.com;))