TheBadPlaceundefined | Modelo maker Constellation Brands withdraws 2028 guidance due to uncertainty
Modelo maker Constellation Brands withdrew its previously issued fiscal‑2028 outlook, citing lingering uncertainty as consumers navigate a rapidly evolving macro‑environment. The company said demand across its beer, wine and spirits categories remained “subdued” for most of the year, though it noted encouraging momentum in the fourth quarter. The announcement also confirmed that Nicholas Fink will assume the role of CEO on April 13.
Despite the soft demand backdrop, Constellation Brands beat Wall Street expectations for both quarterly earnings and revenue. Adjusted earnings came in at $1.90 per share versus the $1.72 expected, and revenue reached $1.92 billion, slightly above the $1.88 billion forecast. Net income for the quarter was $224.7 million, a turnaround from a $370.6 million loss a year earlier, driven largely by continued growth in its beer business.
Looking ahead, the company projected adjusted earnings of $11.20‑$11.90 for fiscal 2027, below analysts’ estimate of $12.36 per share. Management emphasized a disciplined focus on controllable factors amid a dynamic operating environment and noted that consumer spending on alcohol has become more deliberate as economic uncertainty persists. Shares slipped modestly in extended trading following the outlook withdrawal.
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