For the 3 months ended August 31, Constellation reported net sales of $2,481.0 million, a 15% decrease, operating income of $874.0 million, and diluted net income per share of $2.65. In the prior-year period, operating loss was $(1,229.4) million, which included goodwill impairment of $2,250.0 million.

1. 01

   For the 3 months ended August 31, Constellation reported net sales of $2,481.0 million, a 15% decrease, operating income of $874.0 million, and diluted net income per share of $2.65. In the prior-year period, operating loss was $(1,229.4) million, which included goodwill impairment of $2,250.0 million.

2. 02

   The company said its Beer Business net sales for the 3 months declined 7% to $2,345.0 million, and shipment volumes declined 8.7%. It cited socioeconomic headwinds affecting consumer demand and distributor inventory rebalancing as factors.

3. 03

   Constellation used $604.0 million for share repurchases and $361.1 million for dividend payments on a year-to-date basis through 6 months. The board declared a quarterly cash dividend of $1.02 per share of Class A Common Stock payable on September 30, 2025.

4. 04

   The company updated its fiscal 2026 reported EPS outlook to $9.86 to $10.16 and affirmed its recently updated comparable EPS outlook of $11.30 to $11.60, operating cash flow target of $2.5 to $2.6 billion, and free cash flow target of $1.3 to $1.4 billion.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the opening part of the filing body and confirmed exhibits, within a length limit. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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