Constellation Manufacturers (STZ) shares slid in premarket buying and selling Thursday, a day after the alcoholic drinks maker posted a gentle outlook for the complete yr. The corporate, which imports Corona and Modelo beers from Mexico, additionally introduced plans to promote a few of its lower-cost wine manufacturers.

For fiscal 2026, Constellation projected adjusted earnings per share (EPS) of $12.60 to $12.90, beneath the consensus from analysts surveyed by Seen Alpha. The corporate additionally slashed its enterprise internet gross sales projection to a decline of two% to an increase of 1%. Beforehand, it had projected a rise of two% to 4%. It additionally trimmed its fiscal 2027 to 2028 forecasts.

These lowered projections, Constellation stated, displays «the anticipated influence» of the reciprocal tariffs introduced on April 2 in addition to these towards Canada on March 4.

These adjustments to its outlook got here as Constellation posted fourth-quarter adjusted EPS of $2.63 on internet gross sales of $2.16 billion, forward of analysts’ estimates.

The corporate additionally stated that as a part of a multi-year restructuring, it is usually promoting a few of its lower-cost wine manufacturers. It’s conserving these manufacturers “predominantly priced $15 and above” equivalent to Robert Mondavi Vineyard and Kim Crawford.

Constellation shares have been down shut to five% in premarket buying and selling. They’ve misplaced near a 3rd of their worth prior to now 12 months by Wednesday.