STZ · 8-K · 20261006PR000039

Beer Market Demand Trends

CONSTELLATION BRANDS, INC. · 2026-10-06 · Importance 19 · Surprise 32

Beer net sales increased 5% to $2,473.6 million, with shipment volume up 5.5% to 123.9 million 24-pack, 12-ounce case equivalents. Depletions declined 0.6%; declines of approximately 2% for Modelo Especial and 5% for Corona Extra were partly offset by growth of approximately 19% for Pacifico, 15% for Victoria, and 5% for Modelo Chelada brands. One additional selling day was largely offset by the timing of Labor Day, with minimal impact on underlying depletion trends.

Key facts

• Beer Business depletions decreased 0.6% in Q2 FY2027; Modelo Especial declined approximately 2% and Corona Extra approximately 5%, partly offset by Pacifico growth of approximately 19%, Victoria growth of 15%, and Modelo Chelada brands growth of approximately 5%. source
• One additional sell day in Q2 FY2027 was largely offset by a shift in the timing of the Labor Day holiday, resulting in minimal impact on underlying beer depletion trends. source