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A worker stacks cases of Constellation Brands’ Corona beer for delivery at the Euclid Beverage LLC warehouse in Peru, Illinois.
Daniel Acker | Bloomberg | Getty Images
Shares of Constellation Brands fell Thursday after the wine, beer and spirits company reported ongoing supply chain costs that offset sales growth in its beer category.
The stock closed down nearly 9% Thursday.
The company, which makes Corona beer and Svedka vodka, also lowered its earnings out look for the fiscal year. Constellation said it now projects earnings of $11 to $11.20 per share for the year, down from its previous guidance of $11.20 to $11.60 per share.
For the three months ended Nov. 30, Constellation’s beer…
Source cnbc.com
