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Constellation Brands on Tuesday slashed its full fiscal-year outlook, saying a "challenging" economy is hitting its alcohol sales.

The company, home to popular brands such as Modelo and Corona, had previously said in April that higher U.S. tariffs on beer would affect its sales and overall consumer demand. Constellation on Tuesday cut its comparable earnings per share outlook for its fiscal 2026 to a range of $11.30 to $11.60, down from $12.60 to $12.90.

The stock fell more than 6% Tuesday, briefly hitting a 52-week low. Constellation is set to participate in the 2025 Barclays Global Consumer Staples Conference later on Tuesday.

"We continue to navigate a challenging macroeconomic environment that has dam

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