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Constellation Brands 8-K Report, Financial Results (Jun 30, 2026)

Reports
Earnings & Results·Regulation FD·Exhibits & Filings
Filing Date
Filed June 30, 2026
Period End
June 30, 2026
Security
STZ
In the record · 2016–202610-K1110-Q338-K237

STZ filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 237 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Oct ’16Oct ’16
  2. Material agreement8-K · Apr ’19Apr ’19
  3. Leadership change8-K · Apr ’21Apr ’21
  4. Leadership change8-K · Jul ’25Jul ’25

01—Abstract

Summary

Summary of the 8-K filed June 30, 2026. Cited figures are marked; the original filing is the authoritative source.

Constellation Brands, Inc. reported first quarter fiscal 2027 results for the period ended May 31, 2026, in a news release furnished as Exhibit 99.1.

Reported net sales were $2,433 milliona, down 3% from $2,515 million a year earlier, while organic net sales were $2,433 million versus a prior-year organic base of $2,373 million, which the release describes as up 3%. Reported operating income rose 18% to $845 million and reported EPS rose 31% to $3.79. On a comparable (non-GAAP) basis, operating income increased 6% to $834 million and EPS increased 7% to $3.43.

The Beer segment's net sales grew 2% to $2,283.5 millionb with segment operating margin of 39.0%, while the Wine and Spirits segment's reported net sales fell 47% to $149.2 million due to the 2025 Wine Divestitures, though organic net sales rose 8%. For fiscal 2027, the company updated its reported EPS outlook to $11.50 to $12.20 and affirmed its comparable EPS outlook of $11.20 to $11.90, along with operating cash flow guidance of $2.4 to $2.5 billion and free cash flow guidance of $1.6 to $1.7 billion. Operating cash flow for the quarter was $661.8 million and free cash flow was $484.6 million.

The company repurchased $324 millionc of shares year-to-date through June 2026 and its board declared a quarterly dividend of $1.03 per Class A share, payable August 13, 2026, to holders of record as of July 30, 2026. The filing also includes the company's balance sheet, showing cash of $96.6 million and long-term debt of $9,094.9 million plus current maturities of $1,102.6 million as of May 31, 2026. The release notes that the company's comparable net leverage ratio target is approximately 3.0x, and it describes ongoing construction of a third brewery in Veracruz.

02—Key points

Key Highlights

  1. Reported EPS of $3.79 (up 31%) and comparable EPS of $3.43 (up 7%) for the quarter ended May 31, 2026.
  2. Reported net sales declined 3% to $2,433 million; organic net sales were flat with the prior year on a consolidated basis at $2,433 million versus $2,373 million, as stated in the reconciliation table.
  3. Beer net sales rose 2% to $2,283.5 million, with shipments up 1.8% and depletions down 0.3%; the company describes itself as the #1 dollar share gainer in Circana U.S. tracked channels.
  4. Wine and Spirits reported net sales fell 47% to $149.2 million due to the 2025 Wine Divestitures, while organic net sales increased 8% and depletions rose 6.6%.
  5. Fiscal 2027 reported EPS outlook updated to $11.50 to $12.20; comparable EPS outlook affirmed at $11.20 to $11.90.
  6. Operating cash flow of $661.8 million and free cash flow of $484.6 million for the quarter; the company repurchased $324 million of shares year-to-date through June 2026.
  7. Quarterly dividend of $1.03 per Class A share declared, payable August 13, 2026 to holders of record on July 30, 2026.

03—Questions

Frequently Asked Questions

  1. How did Constellation Brands perform in the first quarter of fiscal 2027?

    Reported net sales were $2,433 million, down 3% year over year, while reported operating income rose 18% to $845 million and reported EPS rose 31% to $3.79. On a comparable basis, operating income was $834 million (up 6%) and EPS was $3.43 (up 7%).

  2. Did the company change its fiscal 2027 guidance?

    Yes, in part. The reported EPS outlook was updated to $11.50 to $12.20. The comparable EPS outlook of $11.20 to $11.90 was affirmed, along with operating cash flow of $2.4 to $2.5 billion and free cash flow of $1.6 to $1.7 billion.

  3. Why did Wine and Spirits net sales decline so sharply?

    The decline reflects the 2025 Wine Divestitures. Wine and Spirits net sales fell 47% to $149.2 million on a reported basis, but organic net sales increased 8% to $149.2 million compared with $138.5 million in the prior-year period.

  4. How much capital did the company return to shareholders?

    The company repurchased $324 million of shares year-to-date through June 2026, and the release states it returned over $400 million to shareholders through share repurchases and dividends in the quarter. The board also declared a $1.03 per share quarterly dividend on Class A Common Stock.

  5. What is the company's financial position as of May 31, 2026?

    Cash and cash equivalents were $96.6 million, current maturities of long-term debt were $1,102.6 million, and long-term debt less current maturities was $9,094.9 million. Total stockholders' equity was $8,549.8 million, and the release references a target comparable net leverage ratio of approximately 3.0x.

04—Continue

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