By Nicholas G. Miller

Constellation Brands posted lower second-quarter sales and lowered its full-year earnings outlook again as its core Hispanic demographic continues to buy less beer amid the Trump administration's immigration crackdown.

The U.S. importer of Modelo and Corona recorded $2.48 billion in net sales, down from $2.92 billion, the year before. Analysts expected $2.46 billion, according to FactSet.

Constellation swung to a profit of $466 million, or $2.65 a share, compared to a loss of $1.2 billion, or $6.59, a year ago, when it booked a large goodwill impairment.

Stripping out one-time items, the company posted a profit of $637.8 million, or $3.63 a share, down from $787.6 million, or $4.32. Analysts expected adjusted earnings of $3.38 a share.

The company guided for full-year non-adjusted earnings of $9.86 to $10.16 a share, down from its previous forecast of $10.77 to $11.07 a share. It reiterated its previous adjusted earnings forecast of $11.30 to $11.60 a share.

Constellation had already cut its full-year guidance last month, saying consumers, and in particular Hispanics, were making fewer shopping trips and tightening their spending.

Write to Nicholas G. Miller at nicholas.miller@wsj.com.

(END) Dow Jones Newswires

October 06, 2025 16:31 ET (20:31 GMT)

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