Constellation Brands Anticipates Major Goodwill Impairment

Constellation Brands (STZ) has shared an announcement.

Facing a downturn in its Wine and Spirits segment, primarily in the U.S. wholesale market, the Company anticipates a substantial non-cash goodwill impairment loss estimated between $1.5 and $2.5 billion for the second fiscal quarter of 2024. This projection, based on current cash flow forecasts and assumptions, is still under review and could face further impairments if market conditions worsen or performance falls short of strategic plans. These forward-looking statements involve significant risks and uncertainties, and actual results may differ materially.

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