Constellation Brands, producer of Modelo and Corona in the US, withdraws fiscal 2028 guidance due to uncertainty

Constellation Brands, owner of Modelo and Corona beers, on Wednesday withdrew its previously issued fiscal 2028 outlook, reporting "soft" demand across categories. The company's fourth-quarter results still surpassed Wall Street expectations. "Given the evolving socio-economic backdrop and limited short-term visibility, we anticipate the operating environment will remain dynamic," Constellation Brands said in a statement. Constellation Brands expects that new Chief Executive Officer Nicholas Fink will officially assume his duties next week.