Constellation Brands slashes FY2026 EPS guidance; beer sales seen declining

CONSTELLATION BRANDS, INC.

Reported EPS guidance cut to $10.77-$11.07 from $12.07-$12.37; comparable EPS to $11.30-$11.60 from $12.60-$12.90.
Enterprise organic net sales now expected to decline (6)%-(4)%; prior view was (2)% to 1% growth.
Beer net sales outlook lowered to decline (4)%-(2)% vs. prior 0%-3% growth; operating income to decline (9)%-(7)%.
Free cash flow forecast reduced to $1.3-$1.4B from $1.5-$1.6B; $604M in share repurchases executed in H1.
CEO cites macroeconomic headwinds and softer consumer demand, especially Hispanic consumers; expects distributor inventory rebalancing in Q2.

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