Constellation Brands (STZ) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Jul 08, 2026

Before Open (Confirmed)

Period Ending

2027 (Q1)

Consensus EPS Forecast

3.28

Last Year’s EPS

3.22

Same Quarter Last Year

Analyst Consensus

Moderate Buy

Based on 18 Analysts Ratings

Earnings Call Summary

Q4 2026

Earnings Call Date:Apr 08, 2026|

% Change Since:

Earnings Call Sentiment|Neutral

The call balanced clear operational and brand-level progress—notably strong beer momentum, market leadership for Modelo, meaningful brand expansion (Pacifico, Victoria, Sunbrew), disciplined capital returns (> $900M returned) and robust hedges—against notable near-term headwinds: lower margin guidance (beer), fixed-cost absorption from the Veracruz brewery, wine & spirits category weakness and distributor inventory rebalancing. Management emphasized disciplined cost savings, targeted marketing investments (especially in H1/World Cup), and confidence in medium-term targets (wine & spirits margins toward low-20s over the medium term), but acknowledged limited visibility and cyclicality that could delay margin recovery.

Company Guidance

Constellation guided to beer operating margins of 37–38% for FY‑27 (down from prior 39–40%), with price delivery of about 1–2% (at the lower end this year) and marketing at ~9.5% of sales (front‑loaded in 1H for the World Cup); they expect Veracruz brewery production mid‑year (causing fixed‑cost absorption headwinds and a step‑up in depreciation), continued cost‑savings offset and aluminum‑tariff relief this year, and remain ~80% hedged on currencies (including the peso) with ~100% fuel, ~90% aluminum, ~80% natural gas and ~75% corn hedges; wine & spirits face channel and category pressure (U.S. high‑end wine now expected to be down low single digits vs prior low‑single‑digit growth, and high‑end spirits decelerating from mid‑single‑digit growth to flat/slightly down) but management still targets wine & spirits margins in the low‑20s over the medium term, has agreed distributor inventory rebalancing, returned >$900M to shareholders last year, and noted recent momentum in beer (Modelo +0.6 share pts in Q4 and >1 share pt in the most recent 4 weeks; portfolio grew from ~280M to >400M cases historically), while mix was a ~50 bp drag to beer topline in the last quarter.

Strong Beer Momentum and Market Leadership

Sequential gains in the quarter with depletions up (first quarter with depletions up after three quarters of weakness); Modelo Especial maintained leadership as the #1 beer brand by dollars in the U.S.; management highlighted improved March momentum and exiting the year in a strong position.

Material Beer Portfolio Growth (Long-Term)

Beer business grew from roughly 280 million cases to well over 400 million cases under current leadership (approximately +120 million cases), demonstrating multi-year scale expansion.

Emerging Growth Brands (Pacifico, Victoria, Sunbrew)

Pacifico and Victoria showed notable acceleration (Pacifico 'exploding' beyond West Coast; Victoria more than doubled over recent years with a younger demographic); Sunbrew showed strong momentum in its first full year.

Disciplined Capital Allocation and Cash Returns

Company delivered solid cash generation and returned over $900 million to shareholders last year while continuing dividends and targeted reinvestment.

Hedging and Input Cost Management

Strong hedge positions entering the year: fuel ~100% hedged, aluminum ~90% hedged, natural gas ~80% hedged, corn ~75% hedged, and ~80% currency hedged; management expects 1%–2% price delivery to partially offset cost headwinds and cited aluminum tariff relief as a benefit.

Planned Incremental Marketing Investment

Guidance implies increased marketing (~9.5% of sales) with aggressive investments in H1 (including World Cup) to support Modelo, Pacifico, Victoria and other initiatives to capitalize on momentum.

Cost Savings and Transition from Builder to Operator

Management reiterated ongoing cost savings agenda and operational efficiencies from the shift to an operator model, which will help offset margin headwinds.

Wine & Spirits Portfolio Reshaping

Reshaped wine and spirits mix shows traction with strong contributions from brands like Kim Crawford and Mecampo, supporting higher-end focus.

Constellation Brands (STZ) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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STZ Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jul 08, 2026	2027 (Q1)	3.27 / -	3.22	―	―	―
Apr 08, 2026	2026 (Q4)	1.72 / 1.90	2.63	-27.76% (-0.73)	―
Jan 07, 2026	2026 (Q3)	2.63 / 3.06	3.25	-5.85% (-0.19)
Oct 06, 2025	2026 (Q2)	3.38 / 3.63	4.32	-15.97% (-0.69)
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)

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
Apr 08, 2026	$150.26	$163.07	+8.53%
Jan 07, 2026	$139.58	$147.00	+5.32%
Oct 06, 2025	$136.74	$138.15	+1.03%
Jul 01, 2025	$163.10	$170.41	+4.48%

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.