Key Takeaways Constellation Brands shares plunged Friday, after the maker of beer, wine, and spirits cut its outlook as consumers held back spending.CEO Bill Newlands said it was uncertain when consumers will revert to more normal spending.

(Reuters) - Corona and Modelo owner Constellation Brands cut its annual sales forecast on Friday as persistently sticky inflation dents consumer spending on beers, wines and spirits. The company now expects annual net sales to grow 2% to 5%, compared with its previous forecast of 4% to 6% growth.

Constellation Brands delivered mixed earnings in fiscal 2025's third quarter as growth in beer sales was offset by challenges in its wine and spirits segments.