STZ · 10-Q · 2026Q3 · Full report

Market Demand Trends

CONSTELLATION BRANDS, INC. · 2026-10-07 · Importance 43 · Surprise 32

In the second quarter, Beer shipments rose 5.5% while depletions declined 0.6%; the company attributed shipment growth partly to distributors rebuilding inventory days-on-hand. In Wine and Spirits, second-quarter shipments increased 15.4% and depletions increased 10.2%, with shipment growth benefiting from strategic pricing on select U.S. wholesale brands. For the first six months, Wine and Spirits organic shipments grew 11.5%, while the company said it expected shipments to decline in the second half as key distributors reduced finished-goods inventories by mutual agreement. The company expected Beer shipment volume generally to align with depletion volume for Fiscal 2027.

Key facts

• Constellation Brands expects Wine and Spirits shipment volume to decline during the second half of Fiscal 2027 as it progresses against mutually agreed-upon finished goods inventory reductions with key distributors. source
• Constellation Brands expects shipment volume to generally align with depletion volume for Fiscal 2027. source