Constellation Brands (STZ) Chief Financial Officer Garth Hankinson said Wednesday the firm expects about $20 million impact from aluminum tariffs for the remainder of its fiscal year.

The company expected about $30 million impact earlier in the year, Hankinson said in an earnings call, adding that it was less for the company given that it's one quarter into the year. The incremental tariff went into effect in June.

"Volume-wise we don't expect that we're going to be able to

fully offset this incremental tariff," he said. "So that will be about a 20-basis point hit, but we still believe that we can deliver

margins in line with what we outlined in April."

Hankinson said the company remains confident in its full-year outlook and has reaffirmed its guidance.

The shares were up over 4% in recent trading.

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