09:50 AM EDT, 09/03/2024 (MT Newswires) -- Constellation Brands ( STZ ) lowered its fiscal 2025 reported EPS guidance Tuesday to a range of $3.05 to $7.92 from previous guidance of $14.63 to $14.93, while raising the lower end of its comparable EPS forecast.

The company now expects fiscal 2025 comparable EPS of $13.60 to $13.80 compared with a prior outlook of $13.50 to $13.80.

The beer, wine, and spirits company also lowered its net sales growth guidance to a range of 4% to 6% from previous guidance of 6% to 7%. The company also said it expects a non-cash goodwill impairment loss of approximately $1.5 billion to $2.5 billion in fiscal Q2 of 2025 for its wine and spirits business.

Constellation Brands ( STZ ) said the impairment loss "reflects the company's updated expectations of its fiscal 2025 outlook for its wine and spirits business due to continued negative trends primarily in its US."

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