Alcohol giant Constellation Brands, Inc. (NYSE: STZ) reported a decrease in adjusted earnings for the fourth quarter of fiscal 2026, reflecting an 11% decline in net sales.
Comparable earnings decreased to $1.90 per share in the fourth quarter from $2.63 per share in the year-ago period. Unadjusted net income attributable to the company was $201.8 million or $1.16 per share in Q4, compared to a loss of $375.3 million or $2.09 per share in the prior year period.
Net sales decreased 11% to $1.92 billion in Q4 from $2.16 billion in the fourth quarter of FY25. Organic net sales also declined 11%.
For fiscal 2027, the company expects reported earnings per share to be in the range of $11.10 per share to $11.80 per share, and comparable earnings per share in the $11.20 – $11.90 range. The guidance of FY27 operating cash flow is between $2.4 billion and $2.5 billion, and free cash flow in the range of $1.6 billion to $1.7 billion.
“Despite the dynamic operating environment in fiscal 2026, we remained focused on the factors within our control and executed with discipline. That execution enabled our Beer Business to continue to be the #1 dollar share gainer across U.S. tracked channels, and our remaining portfolio in our Wine & Spirits Business to deliver depletion growth during the year,” said Constellation Brands’ CEO Bill Newlands.
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