12:45 PM EST, 01/10/2025 (MT Newswires) -- (Updates with stock price movement in the headline and first paragraph.)

Constellation Brands ( STZ ) shares were down more than 15% in recent trading on Friday after its fiscal Q3 earnings and revenue missed market expectations.

The company reported fiscal Q3 non-GAAP earnings of $3.25 per diluted share, up from $3.24 a year earlier.

Analysts polled by FactSet expected $3.31.

Net sales for the quarter ended Nov. 30 were $2.46 billion, compared with $2.47 billion a year earlier.

Analysts surveyed by FactSet expected $2.53 billion.

For fiscal 2025, the company said it now expects non-GAAP EPS in the range of $13.40 to $13.80, compared with its prior outlook of $13.60 to $13.80. Analysts polled by FactSet expect $13.73.

Shares of the company were down 2.2% in recent Friday premarket activity.

Price: 185.22, Change: -34.07, Percent Change: -15.53