Constellation Brands said the decrease in Beer net sales for Q2 2026 was largely due to a $219.3 million decrease in shipment volume, partially offset by $40.6 million from pricing in select markets.

1. 01

   Constellation Brands said the decrease in Beer net sales for Q2 2026 was largely due to a $219.3 million decrease in shipment volume, partially offset by $40.6 million from pricing in select markets.

2. 02

   The company said net income attributable to CBI for Q2 2026 increased to $466.0 million from $(1,199.0) million in the prior-year quarter, an increase of 139%, largely attributable to the Wine and Spirits goodwill impairment in Q2 2025.

3. 03

   Constellation Brands said the decrease in Wine and Spirits net sales for Q2 2026 consisted of $220.5 million from the Wine and Spirits Divestitures and a $32.2 million decrease in organic net sales.

4. 04

   The company said net cash provided by investing activities for the six months ended 2026 was $464.8 million, an increase from $(857.6) million for the six months ended 2025, with the increase in proceeds from divestitures of $851.1 million cited as a principal factor. Total debt as of August 31, 2025 was $10,544.9 million.

Key figures

Quarter ended August 31, 2025

Revenue

$2.5B

Operating income

$874M

Net income

$466M

Gross profit

$1.3B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

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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