The earnings call reflects a cautiously optimistic outlook with confidence in meeting revenue and margin guidance, driven by strong brand loyalty, innovation, and strategic hedging. However, there are notable challenges related to consumer concerns, tariff impacts, and regional economic pressures.

Company Guidance

During the Constellation Brands Q1 Fiscal Year 2026 Earnings Conference Call, the company reaffirmed its full-year guidance for beer revenue growth and margins despite industry challenges. The CEO, Bill Newlands, noted that the quarter's results were as expected, even with a depletion decline similar to the previous quarter, adjusted for one less selling day. He emphasized the need for sequential improvement and highlighted that the company is facing easier comparisons going forward. CFO Garth Hankinson addressed margin concerns, revealing an incremental aluminum tariff impact of approximately $20 million, translating to a 20 basis point hit. Despite this, the company remains confident in maintaining margins in line with April's guidance due to operational improvements, including a $40 million tailwind, and effective hedging strategies, particularly for the Mexican peso. The call also touched on distribution gains, pricing strategies, and the competitive landscape, with a focus on maintaining strong brand loyalty and investing in marketing to sustain growth.

Affirmation of Beer Revenue and Margin Guidance

Despite industry challenges, the company remains confident in its unchanged full-year Beer revenue growth outlook and margin guidance, citing sequential improvement and easier comps in the upcoming quarters.

Strong Brand Loyalty and Market Position

Constellation Brands maintains strong brand health and loyalty, particularly among the Hispanic consumer base, with high single-digit share gains and investment in marketing to support long-term brand success.

Innovation and Product Development

New products like Sunbrew and the non-alcoholic sector have shown promising growth, with the company leveraging innovation to capture younger consumers and diversify its portfolio.

Robust Hedging Strategy

The company's robust hedging policy has managed to mitigate currency and commodity risks, with a high level of hedging against the peso, providing stability in cost management.

Constellation Brands (STZ) Earnings, Revenues Date & History

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STZ Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 02, 2025	2026 (Q2)	4.04 / -	4.32	―	―	―
Jul 01, 2025	2026 (Q1)	3.31 / 3.22	3.57	-9.80% (-0.35)
Apr 09, 2025	2025 (Q4)	2.27 / 2.63	2.26	16.37% (+0.37)
Jan 10, 2025	2025 (Q3)	3.31 / 3.25	3.19	1.88% (+0.06)
Oct 03, 2024	2025 (Q2)	4.08 / 4.32	3.7	16.76% (+0.62)
Jul 03, 2024	2025 (Q1)	3.46 / 3.57	2.91	22.68% (+0.66)
Apr 11, 2024	2024 (Q4)	2.11 / 2.26	1.98	14.14% (+0.28)
Jan 05, 2024	2024 (Q3)	3.01 / 3.19	2.83	12.72% (+0.36)
Oct 05, 2023	2024 (Q2)	3.36 / 3.70	3.17	16.72% (+0.53)
Jun 30, 2023	2024 (Q1)	2.83 / 2.91	2.66	9.40% (+0.25)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

STZ Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 01, 2025	$165.45	$172.86	+4.48%
Apr 09, 2025	$181.33	$182.67	+0.74%
Jan 10, 2025	$215.53	$178.70	-17.09%
Oct 03, 2024	$250.24	$238.47	-4.70%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.