Constellation Brands Inc. reported that operating income for its Beer Business is expected to be down 7% to 9%. In the fourth quarter, the company anticipates year-over-year volume declines will improve, but operating margins are likely to be pressured by fixed cost absorption headwinds, increased depreciation expense, and higher tariff expense. For the Wine and Spirits Business, the company continues to expect an organic net sales decline of 17% to 20%, with organic operating income projected to decline 97% to 100%. The full report can be accessed through the link below.

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