Constellation Brands shares sink as Modelo maker slashes guidance, sees Hispanic consumer decline
1. Constellation Brands cuts its fiscal 2026 earnings outlook significantly. 2. Expectations for beer sales have fallen 2% to 4% due to tariffs. 3. Consumer demand, particularly from Hispanic customers, has decreased notably. 4. Stock fell approximately 8% following the updated forecasts. 5. Share repurchase program authorized, totaling $604 million in buybacks.