Constellation Brands, Inc. · STZ · FY2027 Q2 · Calendar Q4 2026

Constellation Brands beats expectations and maintains FY27 EPS guidance

The quarter supports a constructive operating thesis: brand momentum, improved inventory positioning and cost savings are reinforcing demand and earnings resilience. The thesis is less secure if inventory normalization, inflation or Veracruz depreciation offset those gains.

Reported After market closeNYSEConsumer Defensive $19.80B market cap
100quality score

Earnings scorecard

Reported versus consensus
Reported EPS $3.74 Consensus $3.55
EPS surprise +5.4% Reported versus consensus
Reported revenue $2.63B Consensus $2.54B
Revenue surprise +3.7% Reported versus consensus

Market reaction

event-close to next-session close
Stock move +2.4% Event window
SPY move -0.2% Same window
Abnormal move +2.6% Stock minus SPY
Volume 2.6× Versus trailing sessions
Subsequent drift 0.0% Up to 20 sessions
STZSPY benchmark

Ask FN2 about STZ FY2027 Q2

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Why did STZ rise 2.4% after beating EPS estimates in FY2027 Q2?What changed in STZ's guidance and outlook in FY2027 Q2?Give me the bull and bear case for STZ after FY2027 Q2 earnings.

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Transcript intelligence

What changed

Compared with the prior quarter, management pointed to stronger beer share performance, distributor inventories below the long-term average, $600 million of cumulative cost savings, the SpikedAde acquisition and further Veracruz progress. Guidance sentiment remained maintained, but margin and inventory dynamics remain key areas to monitor.

Guidance delta

FY27 EPS guidance was maintained at $11.20-$11.90; management expects to reach the high end.

Key takeaways

  • Beer was described as the sector's leading dollar-share gainer, with Pacifico, Corona, Modelo and Victoria highlighted.
  • Distributor inventory days-on-hand are below the long-term average after a deliberate first-half rebuild.
  • Cost-efficiency initiatives have delivered $600 million of savings, while management continues share repurchases.
  • SpikedAde adds an RTD growth opportunity, but inventory, inflation and Veracruz depreciation remain watchpoints.

Management priorities

  • Sustain brand activation and disciplined marketing tied to sports partnerships.
  • Integrate and scale SpikedAde as an RTD offering.
  • Bring the Veracruz facility online in FY28 while managing its depreciation impact.
  • Continue cost discipline, share repurchases and opportunistic M&A.

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Earnings History

Estimate Beat Miss Match
STZ REVENUE earnings history estimate and actual scatter chart 10 reported fiscal quarters and 4 future estimate-only quarters. Q1 '25 estimate $3B Q1 '25 actual $3B, miss Q2 '25 estimate $3B Q2 '25 actual $3B, miss Q1 '26 estimate $3B Q1 '26 actual $3B, miss Q2 '26 estimate $2B Q2 '26 actual $2B, beat Q3 '26 estimate $2B Q3 '26 actual $2B, beat Q4 '26 estimate $2B Q4 '26 actual $2B, beat Q1 '27 estimate $2B Q1 '27 actual $2B, beat Q2 '27 estimate $3B Q2 '27 actual $3B, beat Q3 '27 estimate $2B Q4 '27 estimate $2B Q1 '28 estimate $2B Q2 '28 estimate $3B
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Analyst Consensus ?

ConsensusBuy46 ratings
Bullish2554.3%
Neutral2043.5%
Bearish12.2%

Analyst 52W Price Targets

$118.39Current
$122Low
$223.46Average
$335High

Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 7, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
Wells Fargo Overweight OverweightMaintainOct 5, 2026
RBC Capital Outperform OutperformMaintainOct 2, 2026
JP Morgan Neutral NeutralMaintainSep 25, 2026
UBS Buy BuyMaintainSep 23, 2026
Citigroup Buy BuyMaintainSep 22, 2026
Show 41 more rating actions

Named analyst price targets

Upside is calculated against the persisted current price $118.39. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
RBC CapitalNik Modi$185$112.84 +56.3%Oct 2, 2026
BernsteinNadine Sarwat$180$112.92 +52.0%Sep 28, 2026
UBSAnalyst unavailable$145$117.59 +22.5%Sep 23, 2026
BarclaysLauren Lieberman$122$118.39 +3.0%Sep 22, 2026
Evercore ISIAnalyst unavailable$160$117.44 +35.1%Sep 21, 2026
See 100 more

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Company context

Snapshot as of publication

Constellation Brands, Inc., together with its subsidiaries, produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company offers beer under the Corona Extra, Corona Familiar, Corona Hard Seltzer, Corona Light, Corona Non-Alcoholic, Corona Premier, Corona Refresca, Modelo Especial, Modelo Chelada, Modelo Negra, Modelo Oro, Victoria, Vicky Chamoy, and Pacifico brands. It also offers wine under the Cook’s California Champagne, Kim Crawford, Meiomi, Mount Veeder, Ruffino, SIMI, My Favorite Neighbor, Robert Mondavi Winery, Schrader, and The Prisoner Wine Company brands; and spirits under the Casa Noble, Copper & Kings, High West, Mi CAMPO, Nelson’s Green Brier, and SVEDKA brands. The company provides its products to wholesale distributors, retailers, on-premise locations, and state alcohol beverage control agencies. Constellation Brands, Inc. was founded in 1945 and is based in Rochester, New York.

Historical context

All STZ earnings
-1.6%FY2027 Q1 · Calendar Q2 2026+8.5%FY2026 Q4 · Calendar Q2 2026+5.3%FY2026 Q3 · Calendar Q1 2026

Consumer Defensive peers this season

Latest reports in the same sector
CompanyQuarterEPS surpriseMarket moveHeadline
LW Lamb Weston Holdings, Inc. FY2027 Q1 · Calendar Q4 2026 +27.8% +7.5% Lamb Weston raises FY2027 outlook as North America volume growth continues
MKC McCormick & Company, Incorporated FY2026 Q3 · Calendar Q4 2026 +13.9% -4.9% McCormick reports strong Q3 growth while U.S. volumes remain soft
CAG Conagra Brands, Inc. FY2027 Q1 · Calendar Q3 2026 +44.4% -4.9% Conagra maintains outlook while increasing brand investment and simplifying SKUs
COST Costco Wholesale Corporation FY2026 Q4 · Calendar Q3 2026 +3.2% +2.9% Costco’s growth broadens as warehouses and digital sales accelerate
GIS General Mills, Inc. FY2027 Q1 · Calendar Q3 2026 +4.6% +1.0% General Mills leans on mix, innovation and e-commerce amid pressure
KR The Kroger Co. FY2026 Q2 · Calendar Q3 2026 +2.8% +2.7% Kroger: Strong digital growth offsets softer sales outlook

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Sources

  1. Earnings call transcript and parsed analysis · 2026-10-07T21:05:28.304879+00:00
  2. FN2 earnings calendar · 2026-10-07T01:23:11.472556+00:00
  3. Polygon adjusted daily market bars · 2026-10-07T21:10:41.662625+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-07T21:10:41.659905+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-10-07. For educational purposes only; not investment advice.