Beer Maker Constellation Brands' Q3 Sales Hit By Subdued Spending; Stock Slides
1. STZ's Q3 sales were $2.46 billion, below expectations. 2. Beer sales rose 3%, while Wine and Spirits dropped 14%. 3. Comparable EPS of $3.25 missed consensus of $3.31. 4. Guidance for FY25 net sales growth revised down to 2%-5%. 5. Quarterly cash dividend of $1.01 declared, payable on February 21.