Investing.com -- Constellation Brands Inc Class A (NYSE: STZ) on Wednesday forecasted its full-year 2027 profit below estimates as it warns of uncertain macro environment ahead, sending shares down 2% in extended hours of trading.

The company said it expects comparable earnings per share in the range of $11.20 - $11.90, below Wall Street estimates of $12.44 per share.

“As we look ahead to fiscal 2027, we expect consumers will continue to navigate a shifting macroeconomic environment, but we remain encouraged by the momentum we saw in the fourth quarter,” Bill Newlands, President & CEO at Constellation Brands said, who will retire next week.

The company however, beat Wall Street estimates for its fourth-quarter sales, helped by steady demand for its beer brands including Corona.

Constellation Brands’ net sales fell 11% to $1.92 billion for the quarter ended Feb. 28, however still beat analysts’ estimates of $1.84 billion. The company said that its Net sales in beer segment increased by over 1% from same quarter last year, helped by shipment growth of 1.1% as favorable pricing, partially offset by unfavorable mix.

However, company reported smaller-than-expected drop in its fourth-quarter earnings per share to $1.90, analysts had expected a profit of $1.68.

The company in February had said that its Board has appointed Nicholas Fink as the company’s next President and Chief Executive Officer, effective April 13, 2026. Fink, a member of Constellation’s Board of Directors since 2021, is going to succeed current President and CEO Bill Newlands who will step down from the CEO role and will continue to serve on the company’s Board.