Constellation Brands Stock Drops Despite Beat on Estimates

Constellation Brands, a beverage alcohol giant valued at over twenty-five billion dollars, has seen its stock plummet by forty-three percent from its fifty-two-week high. Despite exclusive US rights to popular brands like Corona and Modelo, the companys shares have underperformed the S&P five hundred index over the past year. Recent fiscal second-quarter results showed a fifteen percent decrease in net sales, but slightly beat analyst expectations. However, investor sentiment remained cautious, and the stock slipped after the announcement. Meanwhile, competitor Anheuser-Busch InBev has seen its stock rise by nearly fourteen percent over the past year.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.