Constellation Brands stock plunges after earnings miss

USA | How crazy is this? Constellation Brands had its roughest day in over a decade, with the stock nosediving by 17 percent on 10 January. What had happened? Basically, Constellation had missed net sales estimates, booking only USD 2.46 billion in revenue (or -0.3 percent over the same period in 2023). Analysts had projected USD 2.53 billion for its third quarter, which ended on 30 November. It did not help that its net income was USD 616 million, up 21 percent year-on-year.

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