Constellation Brands Adjusts Earnings Forecast Amid Wine Market Challenges

The company anticipates a goodwill impairment loss of up to $2.5 billion due to declining wine demand and rising unemployment.

Constellation Brands has raised the lower end of its fiscal 2025 earnings per share outlook.
The company expects a non-cash goodwill impairment loss between $1.5 billion and $2.5 billion in its wine and spirits division.
Rising unemployment and reduced consumer spending are impacting wine and spirits sales.
The beer segment is projected to grow between 6% and 8% in sales.
Molson Coors sold several craft breweries to Tilray Brands, boosting its stock performance.