NYSE: STZ
CONSTELLATION BRANDS, INC.CIK 0000016918 · SIC 2080 · Beverages
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Constellation Brands enters $300M delayed draw term loan credit agreement
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Constellation Brands holds annual meeting; 8-K filing appears incomplete on Item 5.02
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revenue $2.43B, net income $653.8M. Beer volume rebounds 26.7% as aluminum tariffs lifted; Wine stabilizes post-divestiture
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Constellation Brands reports Q1 FY2027 EPS up 31% to $3.79, raises guidance, returns $400M+
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Constellation Brands adds McDonald's global CMO Morgan Flatley to board
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Latest financial statements
From 10-Q filed Jul 1, 2026 (period ending May 31, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Consolidated Statements of Comprehensive Income (Loss) (Unaudited)
(in millions, except per share data)
| Description | Three months ended May 31, 2026 | Three months ended May 31, 2025 |
|---|---|---|
| NET INCOME (LOSS) ATTRIBUTABLE TO CBI | ||
| Sales | 2,590.4 | 2,677.5 |
| Excise taxes | (157.7) | (162.5) |
| Net sales | 2,432.7 | 2,515.0 |
| Cost of product sold | (1,112.1) | (1,248.4) |
| Gross profit | 1,320.6 | 1,266.6 |
| Selling, general, and administrative expenses | (457.0) | (500.7) |
| Asset impairment and related expenses | (18.3) | (52.1) |
| Operating income (loss) | 845.3 | 713.8 |
| Income (loss) from unconsolidated investments | 0.5 | (3.5) |
| Interest expense, net | (85.8) | (98.9) |
| Income (loss) before income taxes | 760.0 | 611.4 |
| (Provision for) benefit from income taxes | (88.1) | (87.6) |
| Net income (loss) | 671.9 | 523.8 |
| Net (income) loss attributable to noncontrolling interests | (18.1) | (7.7) |
| Net income (loss) attributable to CBI | 653.8 | 516.1 |
| COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO CBI | ||
| Comprehensive income (loss) | 583.1 | 888.1 |
| Comprehensive (income) loss attributable to noncontrolling interests | (14.7) | (21.3) |
| Comprehensive income (loss) attributable to CBI | 568.4 | 866.8 |
| CLASS A STOCK | ||
| Net income (loss) per common share attributable to CBI basic | 3.80 | 2.90 |
| Net income (loss) per common share attributable to CBI diluted | 3.79 | 2.90 |
| Weighted average common shares outstanding basic | 172.186 | 177.801 |
| Weighted average common shares outstanding diluted | 172.407 | 177.991 |
| Cash dividends declared per common share | 1.03 | 1.02 |
Consolidated Balance Sheets (Unaudited)
(in millions, except share and per share data)
| Description | May 31, 2026 | February 28, 2026 |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | 96.6 | 102.4 |
| Accounts receivable | 726.7 | 658.2 |
| Inventories | 1,452.6 | 1,433.9 |
| Prepaid expenses and other | 765.1 | 711.8 |
| Total current assets | 3,041.0 | 2,906.3 |
| Property, plant, and equipment, net of accumulated depreciation of $3,140.8 and $3,095.1, respectively | 8,510.2 | 8,520.9 |
| Goodwill | 5,248.9 | 5,233.9 |
| Intangible assets | 2,536.8 | 2,533.0 |
| Deferred income taxes | 1,459.2 | 1,370.3 |
| Other assets | 1,312.6 | 1,336.1 |
| Total assets | 22,108.7 | 21,900.5 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Short-term borrowings | 336.3 | 272.0 |
| Current maturities of long-term debt | 1,102.6 | 603.6 |
| Accounts payable | 1,000.1 | 960.2 |
| Other accrued expenses and liabilities | 890.0 | 854.0 |
| Total current liabilities | 3,329.0 | 2,689.8 |
| Long-term debt, less current maturities | 9,094.9 | 9,692.9 |
| Deferred income taxes and other liabilities | 1,135.0 | 1,130.9 |
| Total liabilities | 13,558.9 | 13,513.6 |
| Commitments and contingencies | ||
| CBI stockholders’ equity: | ||
| Class A Stock, $0.01 par value Authorized, 322,000,000 shares; Issued, 212,699,542 shares and 212,699,542 shares, respectively | 2.1 | 2.1 |
| Additional paid-in capital | 2,168.7 | 2,185.7 |
| Retained earnings | 14,050.3 | 13,574.4 |
| Accumulated other comprehensive income (loss) | 337.8 | 423.2 |
| Class A Stock in treasury, at cost, 41,232,646 shares and 39,927,096 shares, respectively | (8,303.3) | (8,103.0) |
| Total CBI stockholders’ equity | 8,255.6 | 8,082.4 |
| Noncontrolling interests | 294.2 | 304.5 |
| Total stockholders’ equity | 8,549.8 | 8,386.9 |
| Total liabilities and stockholders’ equity | 22,108.7 | 21,900.5 |
Consolidated Statements of Cash Flows (Unaudited)
(in millions)
| Description | Three months ended May 31, 2026 | Three months ended May 31, 2025 |
|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net income (loss) | 671.9 | 523.8 |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
| Deferred tax provision (benefit) | (78.4) | 34.0 |
| Depreciation | 97.6 | 105.2 |
| Stock-based compensation | 15.0 | 10.4 |
| Noncash lease expense | 33.5 | 31.0 |
| Asset impairment and related expenses | 18.3 | 52.1 |
| Change in operating assets and liabilities, net of effects from purchase and sale of business: | ||
| Accounts receivable | (66.4) | (73.9) |
| Inventories | (34.4) | (20.8) |
| Prepaid expenses and other current assets | (23.8) | (25.8) |
| Accounts payable | 48.0 | 36.7 |
| Other accrued expenses and liabilities | (7.2) | (92.3) |
| Other | (12.3) | 56.8 |
| Total adjustments | (10.1) | 113.4 |
| Net cash provided by (used in) operating activities | 661.8 | 637.2 |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Purchase of property, plant, and equipment | (177.2) | (192.8) |
| Purchase of business, net of cash acquired | (15.3) | — |
| Other investing activities | (0.7) | (3.3) |
| Net cash provided by (used in) investing activities | (193.2) | (196.1) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Proceeds from issuance of long-term debt | 499.7 | 499.1 |
| Principal payments of long-term debt | (601.1) | (1.0) |
| Net proceeds from (repayments of) short-term borrowings | 64.4 | (429.2) |
| Dividends paid | (178.7) | (182.2) |
| Purchases of treasury stock | (223.8) | (306.1) |
| Proceeds from shares issued under equity compensation plans | 3.9 | 5.3 |
| Payments of minimum tax withholdings on stock-based payment awards | (10.2) | (9.4) |
| Payments of debt issuance, debt extinguishment, and other financing costs | (2.9) | (5.2) |
| Distributions to noncontrolling interests | (25.0) | (7.5) |
| Payment of contingent consideration | (0.3) | (1.4) |
| Net cash provided by (used in) financing activities | (474.0) | (437.6) |
| Effect of exchange rate changes on cash and cash equivalents | (0.4) | 2.3 |
| Net increase (decrease) in cash and cash equivalents | (5.8) | 5.8 |
| Cash and cash equivalents, beginning of period | 102.4 | 68.1 |
| Cash and cash equivalents, end of period | 96.6 | 73.9 |
| SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES | ||
| Additions to property, plant, and equipment | 103.1 | 120.3 |
Amounts as printed on the EDGAR/iXBRL face — (in millions, except per share data); (in millions, except share and per share data); (in millions). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗