Constellation Brands down after dour annual forecast

Shares of Corona beer maker Constellation Brands STZ.N down 2.4% at $179 after the bell

STZ sees FY2026 profit below analysts' estimates, expecting Trump administration's steep tariffs to impact its beers and spirits business

Projects annual adj. profit per share between $12.60 and $12.90 vs an estimate of $13.97 apiece

STZ sees annual enterprise organic net sales between 2% decline to 1% growth, while forecasting wine and spirits income to slump up to 100%

The company will sell some of its wine brands like Cook's and Meiomi to California-based The Wine Group for an undisclosed amount

Up to last close, stock has fallen 17% YTD