NYSE: STZ
CONSTELLATION BRANDS, INC.CIK 0000016918 · SIC 2080 · Beverages
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Net income attributable to CBI rose 21.4% to $565.8M in the fiscal second quarter, while operating income fell 7.9% to $805.0M on asset impairments and higher marketing spend.
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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 Oct 7, 2026 (period ending Aug 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 | Six months ended August 31, 2026 | Six months ended August 31, 2025 | Three months ended August 31, 2026 | Three months ended August 31, 2025 |
|---|---|---|---|---|
| NET INCOME (LOSS) ATTRIBUTABLE TO CBI | ||||
| Sales | 5,407.1 | 5,331.4 | 2,816.7 | 2,653.9 |
| Excise taxes | (341.4) | (335.4) | (183.7) | (172.9) |
| Net sales | 5,065.7 | 4,996.0 | 2,633.0 | 2,481.0 |
| Cost of product sold | (2,352.1) | (2,419.4) | (1,240.0) | (1,171.0) |
| Gross profit | 2,713.6 | 2,576.6 | 1,393.0 | 1,310.0 |
| Selling, general, and administrative expenses | (995.2) | (936.7) | (538.2) | (436.0) |
| Asset impairment and related expenses | (68.1) | (52.1) | (49.8) | — |
| Operating income (loss) | 1,650.3 | 1,587.8 | 805.0 | 874.0 |
| Income (loss) from unconsolidated investments | 8.3 | (7.0) | 7.8 | (3.5) |
| Interest expense, net | (169.2) | (186.5) | (83.4) | (87.6) |
| Income (loss) before income taxes | 1,489.4 | 1,394.3 | 729.4 | 782.9 |
| (Provision for) benefit from income taxes | (235.2) | (384.4) | (147.1) | (296.8) |
| Net income (loss) | 1,254.2 | 1,009.9 | 582.3 | 486.1 |
| Net (income) loss attributable to noncontrolling interests | (34.6) | (27.8) | (16.5) | (20.1) |
| Net income (loss) attributable to CBI | 1,219.6 | 982.1 | 565.8 | 466.0 |
| COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO CBI | ||||
| Comprehensive income (loss) | 1,323.9 | 1,603.1 | 740.8 | 715.0 |
| Comprehensive (income) loss attributable to noncontrolling interests | (38.0) | (50.6) | (23.3) | (29.3) |
| Comprehensive income (loss) attributable to CBI | 1,285.9 | 1,552.5 | 717.5 | 685.7 |
| CLASS A STOCK | ||||
| Net income (loss) per common share attributable to CBI basic | 7.12 | 5.55 | 3.32 | 2.65 |
| Net income (loss) per common share attributable to CBI diluted | 7.11 | 5.55 | 3.32 | 2.65 |
| Weighted average common shares outstanding basic | 171.323 | 176.804 | 170.460 | 175.821 |
| Weighted average common shares outstanding diluted | 171.503 | 176.957 | 170.601 | 175.938 |
| Cash dividends declared per common share | 2.06 | 2.04 | 1.03 | 1.02 |
Consolidated Balance Sheets (Unaudited)
(in millions, except share and per share data)
| Description | August 31, 2026 | February 28, 2026 |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | 98.5 | 102.4 |
| Accounts receivable | 678.1 | 658.2 |
| Inventories | 1,378.6 | 1,433.9 |
| Prepaid expenses and other | 804.3 | 711.8 |
| Total current assets | 2,959.5 | 2,906.3 |
| Property, plant, and equipment, net of accumulated depreciation of $3,254.7 and $3,095.1, respectively | 8,653.2 | 8,520.9 |
| Goodwill | 5,269.3 | 5,233.9 |
| Intangible assets | 2,531.2 | 2,533.0 |
| Deferred income taxes | 1,339.3 | 1,370.3 |
| Other assets | 1,311.2 | 1,336.1 |
| Total assets | 22,063.7 | 21,900.5 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Short-term borrowings | 116.5 | 272.0 |
| Current maturities of long-term debt | 1,103.0 | 603.6 |
| Accounts payable | 999.4 | 960.2 |
| Other accrued expenses and liabilities | 744.9 | 854.0 |
| Total current liabilities | 2,963.8 | 2,689.8 |
| Long-term debt, less current maturities | 9,096.2 | 9,692.9 |
| Deferred income taxes and other liabilities | 1,124.3 | 1,130.9 |
| Total liabilities | 13,184.3 | 13,513.6 |
| Commitments and contingencies | ||
| CBI stockholders’ equity: | ||
| Class A Stock, $0.01 par value Authorized, 322,000,000 shares; Issued, 212,699,732 shares and 212,699,542 shares, respectively | 2.1 | 2.1 |
| Additional paid-in capital | 2,185.0 | 2,185.7 |
| Retained earnings | 14,440.1 | 13,574.4 |
| Accumulated other comprehensive income (loss) | 489.5 | 423.2 |
| Class A Stock in treasury, at cost, 42,893,874 shares and 39,927,096 shares, respectively | (8,529.8) | (8,103.0) |
| Total CBI stockholders’ equity | 8,586.9 | 8,082.4 |
| Noncontrolling interests | 292.5 | 304.5 |
| Total stockholders’ equity | 8,879.4 | 8,386.9 |
| Total liabilities and stockholders’ equity | 22,063.7 | 21,900.5 |
Consolidated Statements of Cash Flows (Unaudited)
(in millions)
| Description | Six months ended August 31, 2026 | Six months ended August 31, 2025 |
|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net income (loss) | 1,254.2 | 1,009.9 |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
| Deferred tax provision (benefit) | 26.8 | 277.6 |
| Depreciation | 194.4 | 207.9 |
| Stock-based compensation | 34.9 | 32.1 |
| Noncash lease expense | 67.0 | 62.6 |
| Asset impairment and related expenses | 68.1 | 52.1 |
| Change in operating assets and liabilities, net of effects from purchase and sale of business: | ||
| Accounts receivable | (18.2) | 72.2 |
| Inventories | 3.3 | (48.3) |
| Prepaid expenses and other current assets | (45.7) | (56.8) |
| Accounts payable | 72.8 | 53.0 |
| Contract liabilities | 6.5 | (50.4) |
| Other accrued expenses and liabilities | (197.9) | (57.0) |
| Other | 12.4 | (65.6) |
| Total adjustments | 224.4 | 479.4 |
| Net cash provided by (used in) operating activities | 1,478.6 | 1,489.3 |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Purchase of property, plant, and equipment | (354.1) | (410.1) |
| Purchase of business, net of cash acquired | (15.3) | — |
| Proceeds from sale of assets | 4.1 | 30.8 |
| Proceeds from sale of business | 13.9 | 851.1 |
| Other investing activities | 1.0 | (7.0) |
| Net cash provided by (used in) investing activities | (350.4) | 464.8 |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Proceeds from issuance of long-term debt | 499.7 | 499.1 |
| Principal payments of long-term debt | (602.1) | (902.1) |
| Net proceeds from (repayments of) short-term borrowings | (155.5) | (554.2) |
| Dividends paid | (353.8) | (361.1) |
| Purchases of treasury stock | (454.7) | (604.0) |
| Payment of excise tax on share repurchases | (8.8) | (9.9) |
| Proceeds from shares issued under equity compensation plans | 7.3 | 13.0 |
| Payments of minimum tax withholdings on stock-based payment awards | (10.2) | (9.5) |
| Payments of debt issuance, debt extinguishment, and other financing costs | (3.1) | (5.4) |
| Distributions to noncontrolling interests | (50.0) | (17.5) |
| Payment of contingent consideration | (0.3) | (1.5) |
| Net cash provided by (used in) financing activities | (1,131.5) | (1,953.1) |
| Effect of exchange rate changes on cash and cash equivalents | (0.6) | 2.9 |
| Net increase (decrease) in cash and cash equivalents | (3.9) | 3.9 |
| Cash and cash equivalents, beginning of period | 102.4 | 68.1 |
| Cash and cash equivalents, end of period | 98.5 | 72.0 |
| SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES | ||
| Additions to property, plant, and equipment | 89.7 | 62.5 |
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 ↗