STZ · 10-Q · 2026Q3 · Full report

Share Repurchase Program

CONSTELLATION BRANDS, INC. · 2026-10-07 · Importance 55 · Surprise 24 · In source text

The Board authorized up to $4.0 billion of common-stock repurchases under the 2025 Authorization, which expires in February 2028. As of September 30, 2026, the company had repurchased $1,453.8 million of Class A shares, or 9,429,144 shares, leaving $2,546.2 million available, excluding federal excise tax under the IRA. Repurchases may be made through open-market or privately negotiated transactions and funded with operating cash, borrowings, or divestiture proceeds.

Key facts

• The Board authorized up to $4.0 billion of common-stock repurchases under the 2025 Authorization, which expires in February 2028. source
• As of September 30, 2026, $2,546.2 million remained available for future share repurchases under the 2025 Authorization, excluding the impact of federal excise tax owed under the IRA. source
• As of September 30, 2026, the company had repurchased $1,453.8 million of shares and 9,429,144 Class A shares under the 2025 Authorization. source
• Future repurchases under the 2025 Authorization may be made at management’s discretion based on market conditions, cash and debt position, and other factors, through open-market or privately negotiated transactions. source
• The company may fund future share repurchases with operating cash, borrowing proceeds, and/or divestiture proceeds. source

Impact estimates