Alcoholic beverage manufacturers in the United States, such as Constellation, Molson Coors, and Brown-Forman, have recently faced weak demand, while the doubling of tariffs on aluminum cans to 50% could further affect their margins.
The beer segment reaffirmed its sales forecast through the end of the year, after having cut it last month due to economic pressures and immigration concerns, which have led Latino consumers in the United States, the main consumers of Corona and Modelo, to reduce spending in restaurants and social events.
The company's shares, which have lost 37 % of their value so far this year, rose again by around 4 %.
CEO Bill Newlands stated that the company is navigating a "challenging socioeconomic environment that has reduced consumer demand," but that its beer business outperformed the industry.
