Constellation Brands, Inc. · STZ · Next earnings

Constellation Brands, Inc. reports Tuesday, Oct 6, 2026

STZ reports after market close with consensus EPS at $3.63 and revenue at $2.54B. Last quarter: Constellation Brands Beats on Q1 FY27 Beer Strength, Holds Guidance Amid Macro Uncertainty

Reports After market close16 days awayDate estimated Consumer Defensive

What the street expects

Consensus for the coming report
Consensus EPS $3.63 Calendar consensus
Consensus revenue $2.54B Calendar consensus
Report date Oct 6, 2026 Tuesday, date estimated
Session After market close 16 days away

Where STZ left off: FY2027 Q1

Full report

Constellation Brands Beats on Q1 FY27 Beer Strength, Holds Guidance Amid Macro Uncertainty

EPS surprise +6.5% Reported $3.43 vs $3.22
Revenue surprise +1.9% Reported $2.43B vs $2.39B
Stock move -1.6% Event window
Subsequent drift -4.7% Up to 20 sessions

FY27 guidance was maintained despite the Q1 beat. Management explicitly cited limited macro visibility — gas prices spiked over 50% during the quarter — and the dynamic consumer environment, particularly within Hispanic ZIP codes, as reasons not to raise the outlook after one strong quarter. Prior quarter analysis noted that FY27 beer margin guidance had been lowered to 37-38% due to Veracruz fixed-cost absorption and higher SG&A; that margin outlook was not revised this quarter.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Elevated gas prices and broader inflationary pressures weighing on consumer spending, particularly within Hispanic demographics.
  • Higher marketing spend (over 10% of net sales in Q2/Q3) pressuring operating margins even as gross margins hold.
  • Veracruz pre-commissioning SG&A headwinds, with staffing costs sitting in SG&A until the brewery goes live.
  • Macro-economic uncertainty and limited visibility, which management cited as the rationale for maintaining guidance.
  • Potential dilution from higher-ABV RTD competition in emerging categories.

Questions analysts left open

  • Rationale for maintaining guidance despite a beat and favorable Q2/Q3 comparisons — is it caution or hidden headwinds?
  • Shipment vs. depletion dynamics: whether strong Q1 shipments will pull forward demand or reflect genuine consumption growth.
  • Impact of heightened marketing spend (over 10% of net sales in Q2/Q3) on profitability and operating margin trajectory.
  • Performance outlook for Modelo Especial and Corona Extra amid distribution and awareness gaps.
  • Effect of macro headwinds — particularly gas prices and Hispanic consumer weakness — on future consumption trends.

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Recent STZ quarters

All STZ earnings
-1.6%FY2027 Q1

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2027 Q1

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.