Constellation Brands, Inc. (STZ) announced on Tuesday a revision of its expected reported earnings for the fiscal year 2025. The new range is now set between $3.05 to $7.92 per share, significantly lower than the previous estimate of $14.63 to $14.93 per share.This adjustment includes a non-cash goodwill impairment loss ranging from $1.5 to $2.5 billion for its Wine and Spirits division in the second quarter.The company also updated its forecast for comparable earnings per share, predicting a range of $13.60 to $13.80, rather than the formerly anticipated $13.50 to $13.80. Analysts surveyed by Thomson Reuters had projected average earnings of $13.70 per share for the same period.Additionally, Constellation Brands has reduced its estimates for enterprise net sales growth to a range of 4 to 6 percent, down from the earlier forecast of 6 to 7 percent. This is attributed to continued macroeconomic challenges and extended inventory destocking in the wine and spirits sector.As of now, Constellation Brands’ stock is trading at $246.68 on the New York Stock Exchange, marking a 2.31 percent increase.The material has been provided by InstaForex Company – www.instaforex.com
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