Constellation Brands stock dips in premarket after earnings beat — what investors watch on the call
Constellation Brands shares fell 2.2% premarket to $140.49 after the company cut its full-year earnings outlook despite beating profit estimates. Net sales dropped 10% to $2.22 billion for the quarter ended Nov. 30. Beer shipments fell 2.2%, with Modelo Especial depletions down 4% and Corona Extra down nearly 9%. The board declared a $1.02 quarterly dividend, payable Feb. 12.