Constellation Brands
Producer and U.S. marketer of Modelo, Corona, Pacifico, and Victoria.
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Profile
Produces Modelo, Corona, Pacifico, and Victoria for the U.S. market under perpetual brand rights, alongside a smaller portfolio of higher-end wine and spirits. Beer supplies come from Mexican breweries and reach retailers mainly through wholesale distributors, making imported beer the defining business.
Produces and markets imported Mexican beer alongside higher-end wine and spirits. The Beer segment centers on Modelo Especial, Corona, Pacifico, and Victoria under a perpetual U.S. license, while the smaller Wine and Spirits segment includes Kim Crawford, Ruffino, Robert Mondavi Winery, The Prisoner Wine Company, High West, and Casa Noble. Recent divestitures removed mainstream wine brands and sharpened the portfolio around higher-end labels.
Builds brands through in-house marketing and sales, then reaches U.S. retailers mainly through wholesale distributors; wine and spirits also sell internationally and through direct-to-consumer channels. Beer supplies come from two operating breweries in Mexico, with another under construction, concentrating production and import exposure there. Alcohol licensing, state distribution rules, duties, packaging inputs, and water availability shape operations.
Company facts
Categories
Key statistics
Year to date −7.4% · Average volume (30d) 1.7M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 21, 2026 | Barclays | Reiterate | Equal Weight | $139 | $132 | |
| Jul 2, 2026 | Deutsche Bank | Reiterate | Hold | $155 | $150 | |
| Jul 2, 2026 | Morgan Stanley | Reiterate | Equal Weight | $202 | $158 | |
| Jul 2, 2026 | Barclays | Reiterate | Equal Weight | $170 | $139 | |
| Jul 2, 2026 | Jefferies | Target | $157 | $147 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jun 30, 2026Q1 FY27 | $3.19 | $3.43 | +7.5% | $2.39B | $2.43B | +1.9% | −1.59% |
| Apr 8, 2026Q4 FY26 | $1.71 | $1.90 | +11.1% | $1.88B | $1.92B | +2.1% | +8.53% |
| Jan 7, 2026Q3 FY26 | $2.63 | $3.06 | +16.3% | $2.15B | $2.22B | +3.2% | +5.32% |
| Oct 6, 2025Q2 FY26 | $3.38 | $3.63 | +7.4% | $2.46B | $2.48B | +1.0% | +1.03% |
Financial highlights
| 12 quarters | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|
| Revenue | $2.16B | $2.51B | $2.48B | $2.22B | $1.92B | $2.43B | |
| Gross profit | $1.11B | $1.28B | $1.31B | $1.18B | $951.7M | $1.32B | |
| Operating income | $875.8M | $798.3M | $874.0M | $692.0M | $499.3M | $845.3M | |
| Net income | −$375.3M | $516.1M | $466.0M | $502.8M | $201.8M | $653.8M | |
| Diluted EPS | −$2.09 | $2.90 | $2.65 | $2.88 | $1.16 | $3.79 | |
| Gross margin | 51.1% | 50.8% | 52.8% | 53.2% | 49.6% | 54.3% | |
| Operating margin | 40.5% | 31.7% | 35.2% | 31.1% | 26.0% | 34.7% |
Fiscal years (4-quarter sums)FY22 $8.82B · FY23 $9.45B · FY24 $9.96B · FY25 $10.21B · FY26 $9.14B
Revenue by product · Q1 FY27
Revenue by geography · FY26
Balance sheet, May 31, 2026Cash & short-term investments $96.6M · Total debt $10.53B · Total assets $22.11B · Shareholders' equity $8.26B
Dividends
Raised for 9 straight years — most recently to $1.03 from $1.02 in Apr 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jul 30, 2026 | Jul 30 | Aug 13 | $1.03 | |
| Apr 29, 2026 | Apr 29 | May 14 | $1.03 | raised from $1.02 |
| Jan 29, 2026 | Jan 29 | Feb 12 | $1.02 | |
| Oct 30, 2025 | Oct 30 | Nov 13 | $1.02 | |
| Jul 30, 2025 | Jul 30 | Aug 14 | $1.02 | |
| Apr 29, 2025 | Apr 29 | May 15 | $1.02 | raised from $1.01 |
| Feb 7, 2025 | Feb 7 | Feb 21 | $1.01 | |
| Nov 5, 2024 | Nov 5 | Nov 21 | $1.01 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 170.80M · Float 153.77M · 90.0% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| WSP Holdings Trust · 10 percent owner | 20.43M | 11.96% | Form 4 | Jun 3, 2025 |
| BlackRock, Inc. | 11.54M | 6.76% | 13F | Aug 7, 2026 |
| Capital World Investors | 11.21M | 6.56% | 13F | Aug 12, 2026 |
| Vanguard Capital Management LLC | 9.34M | 5.47% | 13F | Aug 13, 2026 |
| Vanguard Portfolio Management LLC | 7.84M | 4.59% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 12, 2026 | James O. Bourdeau | officer: EVP and Senior Advisor | −4,407 | $143.24 |
| Apr 27, 2026 | Ernesto M. Hernandez | director | −2,000 | $153.92 |
| Feb 17, 2026 | Samuel J. Glaetzer | officer: EVP & Pres. Wine and Spirits | −555 | $153.78 |
Peers
- Anheuser-Busch InBev (ADR)
Dominant U.S. brewer; Michelob Ultra and Bud Light rival Modelo/Corona.
- Molson Coors Class B
Second-largest U.S. brewer; Coors Light and Miller Lite compete head-to-head.
- Diageo (ADR)
Don Julio and Casamigos contest the same premium tequila shelf as Casa Noble.
- Boston Beer
Craft and Beyond Beer leader; Twisted Tea and Truly compete in FMB/seltzer.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Constellation Brands | $130.80 | +0.08% | $22.32B | 12.5 | 11.0 | 2.5 | −3.3% |
| Anheuser-Busch InBev (ADR) | $80.25 | +0.12% | $157.81B | 13.5 | — | 2.0 | — |
| Molson Coors Class B | $41.46 | −0.06% | $7.78B | — | 8.7 | 0.7 | −3.3% |
| Diageo (ADR) | $92.99 | +0.05% | $51.69B | 29.5 | — | 2.6 | −2.6% |
| Boston Beer | $183.13 | +0.05% | $1.91B | — | 18.5 | 0.9 | −9.1% |
| Median | 21.5 | 13.6 | 1.5 | −3.3% |