---
schema_version: "secwatch.filing_event.v1"
accession: "0000016918-24-000172"
form_type: "8-K"
ticker: "STZ"
cik: "0000016918"
company_name: "CONSTELLATION BRANDS, INC."
filed_at: "2024-09-03T23:59:59+00:00"
generated_at: "2026-05-31T06:39:05.128535+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Constellation Brands updates FY2025 outlook, expects $1.5B-$2.5B Wine & Spirits goodwill impairment

## Summary
- Updated FY2025 comparable EPS guidance $13.60-$13.80, raised lower end; reported EPS $3.05-$7.92 includes impairment.
- Non-cash goodwill impairment loss of $1.5B-$2.5B for Wine & Spirits segment in Q2 FY2025.
- Beer net sales growth revised to 6%-8% (from 7%-9%); operating income growth raised to 11%-12% (from 10%-12%).
- Wine & Spirits net sales decline guidance widened to (6%)-(4%) from (0.5%)-0.5%; operating income decline (18%)-(16%).
- Management cites macroeconomic headwinds (unemployment) and inventory destocking; maintains ~3.0x net leverage target.

## SEC filing metadata
- accession: 0000016918-24-000172
- form_type: 8-K
- ticker: STZ
- cik: 0000016918
- company_name: CONSTELLATION BRANDS, INC.
- filed_at: 2024-09-03T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 2.06, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/16918/000001691824000172/0000016918-24-000172-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/16918/000001691824000172/stz-20240902.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000016918-24-000172
- JSON: https://secwatch.observer/filing/0000016918-24-000172.json
- Plain text: https://secwatch.observer/filing/0000016918-24-000172.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.