Constellation Brands Inc. (NYSE: STZ) reported its first quarter 2026 earnings results.
Net sales were $2.51 billion, down 6% on a reported basis and 4% on an organic basis, compared to the prior-year quarter.
Reported net income attributable to CBI decreased 41% to $516 million and earnings per share decreased 39% to $2.90 compared to last year. Comparable EPS was down 10% to $3.22 year-over-year.
Net sales in the Beer business decreased 2% to $2.23 billion while Wine and Spirits segment sales fell 28% to $280.5 million YoY. Wine and Spirits organic sales were down 21%.
For fiscal year 2026, enterprise organic sales are expected to be down 2% to up 1% compared to the previous year. Reported EPS is expected to range between $12.07-12.37 while comparable EPS is expected to be $12.60-12.90.
The Beer segment is expected to see sales growth of 0-3% in FY2026 while the Wine and Spirits segment is projected to see organic sales decline of 17-20%.