Constellation Brands saw momentum, closing up +0.88% after analysis of its Q3 2026 earnings call confirmed stronger-than-expected beer operating margins due to cost efficiencies and favorable pricing.
- Management cautioned that a beneficial Q3 depreciation timing will become an incremental headwind in Q4.
- This headwind is primarily attributed to incremental assets being placed into service as part of the ongoing brewery expansion, particularly at Veracruz.