Constellation Brands earnings date
Constellation Brands expects its next results on January 6, 2027. Constellation Brands must show whether depletions improve and shipments track them after the inventory rebuild.
What has Constellation Brands guided for fiscal 2027?
The outlook covers the fiscal year ending February 2027. Enterprise organic sales growth, meaning growth from the continuing business after acquisitions and disposals, is guided between −1% and +1%. Beer has the same range. That is a steadying plan, not a return to rapid growth.
Beer must do more of the work because its operating-margin target is 37%–38%. Wine and spirits is targeting only 5%–6%. Management also expects $200 million of annualized cost savings by fiscal 2028. Annualized means the yearly benefit once the measures are fully in place, not cash arriving immediately.
| The period guided | Low | High | The date it was given | |
|---|---|---|---|---|
| Forecasted EPS (GAAP) | Year to Feb 2027 | 11.85 | 12.55 | Oct 6, 2026 |
| Forecasted comparable EPS (Non-GAAP) | Year to Feb 2027 | 11.20 | 11.90 | Oct 6, 2026 |
| Enterprise: organic net sales growth (decline) | Year to Feb 2027 | -1.0% | 1.0% | Oct 6, 2026 |
| Beer: operating margin | Year to Feb 2027 | 37.0% | 38.0% | Oct 6, 2026 |
| Wine and Spirits: operating margin | Year to Feb 2027 | 5.0% | 6.0% | Oct 6, 2026 |
| Free cash flow (Non-GAAP) | Year to Feb 2027 | 1,600 | 1,700 | Oct 6, 2026 |
What this means. The comparable figures remove unusual costs and gains, so they are not the same as the company's standard accounting figures.
What did Constellation Brands show in the last eight quarters?
Gross margin barely changed. Reported operating income fell, including a $49.8 million Nelson’s Green Brier impairment. After company adjustments, operating income rose only about 1.2% from the prior year. Net income and EPS rose more quickly because the tax burden was lower, not because operating improvement was equally strong.
| Aug 2026 | May 2026 | Feb 2026 | Nov 2025 | Aug 2025 | May 2025 | Feb 2025 | Nov 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,633.0 | 2,432.7 | 1,920.2 | 2,222.8 | 2,481.0 | 2,515.0 | 2,164.2 | 2,463.8 |
| Gross margin | 52.9% | 54.3% | 49.6% | 53.2% | 52.8% | 50.4% | 51.5% | 52.1% |
| Operating income | 805.0 | 845.3 | 441.6 | 692.0 | 874.0 | 713.8 | -150.3 | 793.0 |
| Net income | 565.8 | 653.8 | 201.8 | 502.8 | 466.0 | 516.1 | -375.3 | 615.9 |
| EPS, diluted | 3.32 | 3.79 | 1.16 | 2.88 | 2.65 | 2.90 | -2.09 | 3.39 |
| = Free cash flow | 639.9 | 484.6 | 343.9 | 370.9 | 634.8 | 444.4 | 312.1 | 456.8 |
What should Constellation Brands watch in the next results?
The November 2026 quarter includes an expected tax benefit of $100–$150 million from releasing a valuation allowance. Investors should separate that accounting benefit from beer volumes and operating profit. The more revealing questions are whether depletions improve and whether shipments begin tracking them after the inventory rebuild.