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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Constellation Brands Inc | NYSE:STZ | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
2.00 | 0.79% | 256.08 | 256.62 | 253.51 | 255.00 | 735,855 | 01:00:00 |
By Dean Seal
Constellation Brands lowered its annual earnings forecast after its first-quarter profit fell 65%.
The maker of beer, wine and spirits said it now expects earnings of $9.35 to $9.65 a share for fiscal 2024, down from its previous guidance for $11.60 to $11.90 a share.
The guidance assumes beer sales grow 7% to 9% while wine and spirits sales stay relatively flat.
Adjusted earnings, which strip out one-time items, are still projected to be $11.70 to $12 a share for the year.
Shares fell 1.1% to $244 in premarket trading Friday.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
June 30, 2023 08:25 ET (12:25 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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