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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 | |
|---|---|---|---|---|---|---|---|---|
| 1.51 | 0.59% | 255.455 | 255.49 | 253.39 | 254.36 | 309,080 | 18:56:34 |
From May 2023 to May 2024
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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