Constellation Brands, Inc. reported its financial results for the second fiscal quarter ended August 31, 2026. The company generated reported net sales of $2,633 million and reported earnings per share (EPS) of $3.32. On a comparable basis, which excludes certain adjustments, EPS was $3.74, representing a 3% year-over-year increase. Reported net sales increased by 6%, while comparable net sales also increased by 6%.
Within the company’s Beer business, net sales increased by 5% to $2,473.6 million, driven by a 5.5% increase in shipment volumes. The Wine and Spirits business saw net sales rise by 17% to $159.4 million, supported by a 15.4% increase in shipment volumes. The company noted that its Beer business led the category in dollar and volume share gains across U.S. tracked channels, outperforming the total beer category by 4 percentage points. The Wine and Spirits portfolio also outpaced the total wine and spirits category in both dollar and volume sales.
Constellation Brands updated its fiscal 2027 outlook. The company raised its reported EPS outlook to a range of $11.85 to $12.55, up from the previous range of $11.20 to $11.90. The company reaffirmed its comparable EPS outlook of $11.20 to $11.90, its operating cash flow target of $2.4 to $2.5 billion, and its free cash flow target of $1.6 to $1.7 billion.
In other corporate developments, the company announced the completion of the acquisition of SpikedAde, a spirit-based ready-to-drink beverage brand. The transaction included an initial payment of $75 million for 100% ownership, with additional contingent consideration of up to $278 million payable over five years. The company also declared a quarterly cash dividend of $1.03 per share of Class A Common Stock, payable on November 13, 2026, to stockholders of record as of October 30, 2026.
