Shares of Constellation Brands fell after hours on Tuesday after the beer and wine producer forecast better-than-expected profits but said “socioeconomic headwinds” had hit beer demand. Executives at the company — whose brand portfolio includes Corona and Modelo in the U.

Constellation Brands posted lower profit and sales in its most recent quarter, as widespread consumer weakness, including among its core Hispanic demographic, continued to weigh on sales of beer and wine.

On Tuesday, Rochester beverage giant Constellation Brands unveiled its first quarter report. In its report, the company says its beer portfolio continues to outperform the market by 2 points. (Modelo,