Modelo beer on a shelf at a Safeway store in San Anselmo, California, on October 6, 2025.
Justin Sullivan | Getty Images
constellation brandthe U.S. maker of Modelo and Corona, on Wednesday withdrew its previously announced fiscal year 2028 outlook and reported slightly weaker demand as consumers navigate a rapidly evolving macro environment.
The company said it was encouraged by fourth-quarter momentum across its beer, wine and spirits businesses, but the broader environment indicates lingering uncertainty. Constellation Brands also previously appointed Nicholas Fink as its new CEO, effective April 13.
“Given the evolving socio-economic context and the limitations of the near-term outlook, we expect the operating environment to remain dynamic,” the company said in a statement.
Constellation Brands stock fell slightly in after-hours trading.
Still, the company’s fourth-quarter and full-year results beat Wall Street expectations.
Here’s how the company’s fourth-quarter results compared to what Wall Street was expecting based on a survey of analysts by LSEG:
Earnings per share: Adjusted $1.90 per share, forecast $1.72 per share Revenue: $1.92 billion, forecast $1.88 billion
For the fourth quarter, the company reported net income of $224.7 million, up from a loss of $370.6 million in the year-ago period.
The company said its overall net sales for fiscal 2026 were down 3%, but its beer business remained one of its largest sources of growth.
The company said it expects adjusted EPS for fiscal 2027 to be between $11.20 and $11.90 per share, compared to the expected $12.36 per share. Constellation Brands said consumption behavior across the alcohol category has become more “deliberate” due to widespread economic uncertainty, and overall demand across the category has remained “subdued” through most of the year.
“Despite the dynamic operating environment in 2026, we continued to focus on factors within our control and operated with discipline,” CEO Bill Newlands said in a statement.
