Constellation Earnings Miss on Wine, Spirits Softness

Constellation Brands Inc. profit trailed expectations in the first quarter due to weaker consumer demand for alcoholic beverages and higher costs from aluminum tariffs.

Earnings excluding some items were $3.22 a share in the period, missing the average analyst estimate by 10 cents. The company’s beer margins were hit by President Donald Trump’s 25% tariff on imported aluminum cans — a key packaging material for its Mexican-made beers such as Modelo and Corona. That levy has doubled since the quarter ended.