STZ · 8-K · 20261006PR000039

Guidance and Outlook

CONSTELLATION BRANDS, INC. · 2026-10-06 · Importance 50 · Surprise 24 · In source text

For fiscal 2027, Constellation Brands expects reported EPS of $11.85–$12.55 and comparable EPS of $11.20–$11.90 for the year ending February 28, 2027. Management projects enterprise organic net sales growth (decline) of (1)% to 1%, reported operating margin of 31%–32%, and comparable operating margin of 32%–33%. The company targets operating cash flow of $2.4–$2.5 billion, capital expenditures of approximately $800 million, and free cash flow of $1.6–$1.7 billion.

Key facts

• Constellation’s FY2027 capital expenditure outlook is approximately $800 million. source
• Constellation reaffirmed its FY2027 operating cash flow target of $2.4–$2.5 billion and free cash flow target of $1.6–$1.7 billion. source
• Constellation updated its FY2027 reported EPS outlook to $11.85–$12.55 and reaffirmed comparable EPS outlook of $11.20–$11.90. source
• Constellation’s FY2027 enterprise organic net sales growth outlook is (1)% to 1%; Beer net sales growth outlook is (1)% to 1%; Wine and Spirits organic net sales growth outlook is (1)% to 1%. source
• Constellation’s FY2027 reported operating margin outlook is 31%–32% and comparable operating margin outlook is 32%–33%. source
• Constellation’s FY2027 Beer operating margin outlook is 37%–38%, and Wine and Spirits operating margin outlook is 5%–6%. source
• The FY2027 outlook excludes $142 million of Enterprise and Wine and Spirits net sales for March 1, 2025 through June 1, 2025, following the 2025 Wine Divestitures. source
• The SpikedAde acquisition does not affect Constellation’s FY2027 outlook. source

Impact estimates