The company also trimmed its annual enterprise net sales growth to between 4% and 6%, from 6% to 7% earlier, as retailers reduce stocking wine and spirits and consumers pare back spending on pricier alcoholic beverages.
Shares of the company, which is expected to report second-quarter results on Oct. 3, were unchanged in early trading.
In July, Constellation Brands topped Wall Street estimates for first-quarter profit on resilient demand for its beers such as Modelo Especial and Pacifico, as well as higher pricing.
The company expects a goodwill charge of about $1.5 billion to $2.5 billion in the second quarter related to the wine and spirits business.
Constellation Brands lowered its fiscal 2025 reported earnings per share estimates to a range of $3.05 to $7.92, from $14.63 to $14.93 earlier.
It raised the lower end of its annual adjusted earnings per share by 10 cents to $13.60 while maintaining the upper end at $13.80.
Wine and Spirits annual net sales is expected to decline between 6% and 4%, compared with a fall of 0.5% to a rise of 0.5% expected earlier.
