Constellation Brands Stock Dips As Key Brands Lose Volume Despite Qtrly Beat
Constellation Brands (STZ) shares declined in after-hours trading after the company reported quarterly results that beat estimates but maintained its full-year profit outlook. The company's two largest brands, Modelo and Corona, continue to experience declining sales volumes.
Shares of Constellation Brands (STZ) fell in after-hours trading on Tuesday after the beer maker beat quarterly estimates but left its full-year profit outlook unchanged, while its two biggest brands continued to lose volume. The stock dropped as much as about 5% shortly after the close. It had finished the regular session lower before the move.