Constellation Brands reported a 10% decline in net sales to $2.22 billion and a 6% decrease in comparable EPS to $3.06 for the third quarter of fiscal 2026. The results were driven by a slowdown in the Beer segment, while the Wine & Spirits business was significantly impacted by recent divestitures.

Key Highlights

  • The core Beer segment experienced a 3.0% decline in depletions, reflecting weakness in key brands with Modelo Especial depletions down approximately 4% and Corona Extra down nearly 9%.
  • Impacted by recent divestitures, the Wine & Spirits segment saw reported net sales fall 51%; on an organic basis, net sales declined 7% with U.S. depletions remaining flat.
  • Management affirmed its full-year fiscal 2026 guidance, expecting comparable EPS of $11.30 - $11.60 and a net sales decline for the Beer segment of 2% to 4%.