Business
Constellation Brands reiterates lower full-year guidance
Modelo beer is displayed on a shelf at a Safeway store on Oct. 6, 2025 in San Anselmo, California.
Justin Sullivan | Getty Images
Modelo owner Constellation Brands beat on the top and bottom lines in its fiscal second-quarter earnings report on Monday and reiterated its lowered full-year guidance due to macroeconomic headwinds.
Shares of the company rose roughly 3% in extended trading.
Here’s how the company performed in the second quarter, compared with what Wall Street was expecting based on a survey of analysts by LSEG:
- Earnings per share: $3.63 adjusted vs. $3.38 expected
- Revenue: $2.48 billion vs. $2.46 billion expected
For the period ending Aug. 31, the company reported net income of $466 million, or $2.65 per share, compared with a loss of $1.2 billion, or $6.59, the year prior. Excluding costs for restructuring and other items, the brewer reported earnings of $3.63 per share.
Constellation’s net sales dropped 15% from the same period last year to $2.48 billion, and the company’s operating margin fell 200 basis points due in part to aluminum tariffs.
“While we continue to navigate a challenging socioeconomic environment that has dampened consumer demand, our teams remain focused on executing against our strategic objectives, including driving distribution gains, disciplined innovation and investing behind our brands,” CEO Bill Newlands said in a statement.
In September, Constellation announced it was slashing its full fiscal year guidance due to a “challenging macroeconomic environment.” It cut its comparable earnings per share outlook to a range of $11.30 to $11.60, down from $12.60 to $12.90, and reaffirmed that outlook in Monday’s report.
The company also reiterated its previous estimate of organic net sales falling 4% to 6% for fiscal 2026, down from a previous expectation of 1% growth to a 2% decline.
Constellation also previously identified a trend of lower demand from Hispanic consumers, which it said was caused by concerns about President Donald Trump‘s immigration policies and potential job losses.
Constellation executives will hold a call with analysts tomorrow at 8 a.m. ET.
Business
Could a digital twin make you into a ‘superworker’?
Firms say digital twins make staff more productive, but are they a potential legal minefield?
Source link
Business
Netflix co-founder Reed Hastings to step down as chairman
Hastings set up the company in 1997, when it rented DVDs to customers and delivered by post.
Source link
Business
Trump nominates Erica Schwartz as CDC director amid turmoil around leadership, vaccine policy
Rear Admiral Erica G. Schwartz.
U.S. Department of Health and Human Services
President Donald Trump on Thursday nominated Erica Schwartz to serve as director of the Centers for Disease Control and Prevention, concluding a monthslong effort to choose a permanent leader of the embattled health agency.
Schwartz, who will have to be confirmed by the Senate, would take over the role as Health and Human Services Secretary Robert F. Kennedy Jr. oversees a string of controversial health policy changes at the agency, including an overhaul of childhood vaccine recommendations.
Schwartz served as deputy surgeon general during the first Trump administration, where she played a major role in the U.S. response to the Covid-19 pandemic. She spent more than 20 year in uniform, including as rear admiral and chief medical officer of the Coast Guard.
Dr. Jay Bhattacharya had been acting director of the CDC — a title that expired last month under federal law. That law, called the Vacancies Act, limits the amount of time an acting officer can serve in place of a Senate-confirmed official to 210 days.
Late last month marked 210 days since the most recent CDC director, Dr. Susan Monarez, was fired.
A sign sits outside of the Centers for Disease Control and Prevention (CDC) Roybal campus in Atlanta, Georgia, U.S. March 18, 2026.
Megan Varner | Reuters
She has so far been the only person to serve as a confirmed CDC director during Trump’s second term, holding the role for under a month last summer. In congressional testimony in September, Monarez said she was fired after refusing Kennedy’s demands to approve vaccine recommendations she believed lacked scientific support.
It is unclear how Schwartz’s views on vaccines or other key public health policies compare with Kennedy’s.
Also on Thursday, Trump said he chose Sean Slovenski as deputy CDC director and chief operating officer, and Jennifer Shuford as deputy CDC director and chief medical officer. Shuford, as head of the Texas Department of State Health Services, led the state’s response to a massive measles outbreak last year, and credited vaccination and testing in declaring it over.
Schwartz’s nomination comes after a tumultuous several months for the agency, which is reeling from the leadership upheaval, plummeting morale, significant staff turnover and controversial changes to U.S. vaccine policy. Ahead of leadership departures last year, staff members were shaken by a gunman’s attack on the CDC’s Atlanta headquarters on Aug. 8.
Last month, a judge blocked a critical vaccine panel’s efforts to overhaul U.S. immunization policy. That includes an effort to reduce the number of recommended childhood shots from 17 to 11.
Trust in federal health agencies has plummeted during Kennedy’s tenure as Health and Human Services secretary, according to a February poll from health policy research group KFF, with declines across the political spectrum.
-
Entertainment1 week agoQueen Elizabeth II emotional message for Archie, Lilibet sparks speculation
-
Tech1 week agoAzure customers up in arms over ‘full’ UK South region | Computer Weekly
-
Tech1 week agoAs the Strait of Hormuz Reopens, Global Shipping Will Take Months to Recover
-
Fashion1 week agoCII submits 20-pt agenda to Indian govt to back firms hit by Iran war
-
Tech1 week agoThis AI Button Wearable From Ex-Apple Engineers Looks Like an iPod Shuffle
-
Politics7 days agoIndian airlines hit hardest after Dubai limits foreign flights until May 31
-
Entertainment4 days agoPalace left in shock as Prince William cancels grand ceremony
-
Politics7 days agoChinese, Taiwanese will unite, Xi tells Taiwan opposition leader
