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Beer and wine stocks fall after Constellation Brands warns on costs – Seeking Alpha

January 5, 2023 by Wine

Woodkern/iStock by means of Getty Images

Constellation Brands (NYSE: STZ) fell 8.37% on Thursday to its least expensive level in 10 months after revenue guidance came in lower than prepared for. Higher costs for raw materials, packaging and logistics, and brewery growths cut into FQ3 EPS along with the full-year earnings outlook.

Weighing in on the STZ numbers, Morgan Stanley noted that total STZ deficiencies do seem slowing and the incremental news is that untracked channels slowed more than expected. Expert Dara Mohsenian likewise stated the Modelo deficiency result was soft. “While STZ raised the low end of its FY22 beer net sales and operating earnings development assistance, FY guidance implies further deterioration in F4Q,” he warned.

Beer and spirits stocks reacted negatively to the STZ upgrade. Within the alcoholic beverage sector – Molson Coors (TAP) fell 3.27%, Duckhorn Portfolios (NAPA) peeled -2.80%, Brown-Forman (BF.A) declined 2.77%, Boston Beer (SAM) was down 2.11%, and Anheuser-Busch InBev (BUD) revealed a 1.65% drop.

See Seeking Alpha Quant Scores throughout the customer staples sector.

Source: https://news.google.com/__i/rss/rd/articles/CBMiaWh0dHBzOi8vc2Vla2luZ2FscGhhLmNvbS9uZXdzLzM5MjI0OTYtYmVlci1hbmQtd2luZS1zdG9ja3MtZmFsbC1hZnRlci1jb25zdGVsbGF0aW9uLWJyYW5kcy13YXJucy1vbi1jb3N0c9IBAA?oc=5

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