Constellation Brands backs FY26 comparable EPS view $11.30-$11.60

Consensus $11.48. Backs FY26 organic net sales view down 4%-6%. Sees FY26 free cash flow $1.3B-$1.4B. Sees FY26 comparable tax rate 19%. The company said, “Enterprise growth assumptions and Wine and Spirits decline assumptions for fiscal 2026 exclude $98 million of net sales and $35 million of gross profit less marketing for the March 1, 2024 to January 5, 2025, period that are no longer part of year over-year results following the SVEDKA Divestiture and $613 million of net sales and $210 million of gross profit less marketing for the June 2, 2024 to February 28, 2025, period that are no longer part of year-over-year results following the 2025 Wine Divestitures.”