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.

Constellation is navigating multiple headwinds including tariffs, muted beer sales, and more drinkers cutting back on alcohol and turning to alternatives such as cannabis. The company has also cited a pullback among Hispanic consumers — who make up more than half of Modelo drinkers — amid concerns about inflation, immigration and job security.

To offset the pressure, Constellation is ramping up marketing to non-Hispanic audiences and leaning further into premium offerings. Earlier this year, it agreed to sell lower-priced wine brands such as Woodbridge and Robert Mondavi Private Selection, part of a broader overhaul aimed at saving more than $200 million annually by fiscal 2028.

Shares of Constellation were little changed in extended New York trading. The stock has lost about a quarter of its value since the beginning of the year.

Alcohol companies more broadly are under scrutiny as regulators weigh new warning labels and younger consumers shift away from traditional drinking habits.

Constellation’s wine and spirits segment, featuring labels such as Kim Crawford and Casa Noble tequila, saw sales fall by 28% in the quarter ended May 31, according to a statement Tuesday. The company said it slowed shipments to better align with weak demand, especially in mainstream price segments in the US wholesale market. It also recently sold its Svedka vodka brand, which contributed to the decline in sales.

Constellation said its beer division outperformed the total beverage alcohol category despite a 2% drop in sales that the company blamed on socioeconomic headwinds. The business includes brands such as Modelo Especial, Corona Extra and Pacifico.

The company reiterated its full-year forecast for adjusted earnings and organic net sales growth.