Constellation Brands has been seeing soft demand in its wine and spirits segment – and the alcohol producer recently said it will weigh on its second-quarter results.
The company said Tuesday it expects to record a non-cash goodwill impairment loss during the second quarter for its wine and spirits segment that will amount to $1.5-2.5 billion. The expected write-down for the business "reflects the Company’s updated expectations of its fiscal 2025 outlook for its Wine and Spirits business due to continued negative trends primarily in its U.S.
Its beer business includes brands like Corona Extra, Modelo Especial and Pacific, among others. Meanwhile, Prisoner Wine Company, Kim Crawford and Meiomi are among some of the brands in its wine portfolio.
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