Constellation Brands Downgraded Amid Subdued Beer Volume Growth Projections

Last week, Constellation Brands Inc. STZ reported second-quarter adjusted earnings per share of $4.32, beating the analyst consensus of$4.08. Quarterly revenues of $2.92 billion beat the street view of$2.90 billion. The company reported a loss per share of $6.59, including a$2.25 billion non-cash goodwill impairment loss for the Wine and Spirits business. BofA Securities downgraded Constellation Brands, reflecting lowered calendar year 2025 estimates amid slower beer volume growth. The analyst writes, "W ...