Constellation Brands

STZ · Consumer Staples · Market cap $22.1B

Q3 FY26 Sep 1 – Nov 30, 2025 reported Jan 8, 2026

Revenue$2.2B −10% year over year

Gross profit$1.2B

Operating profit$0.7B

Net profit$0.5B 23% margin

Numbers and detail

All figures in billions of U.S. dollars, for Q3 FY26 (period ends Nov 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	2.2	100%	−10%
Beer	2	91%	−1%
Constellation Wines and Spirits	0.2	9%	−51%
Cost of revenue	−1	45%
Gross profit	1.2	53% margin	+1pp
SG&A	−0.5	22%	+2pp
Operating profit	0.7	31% margin	−1pp
Tax	−0.1
Interest & other costs	−0.1
Net profit	0.5	23%	−2pp

All figures in billions of U.S. dollars, for Q2 FY26 (period ends Aug 31, 2025).
Item	Value	Share of revenue	Year over year
Revenue	2.5	100%	−15%
Beer	2.3	92%	−7%
Constellation Wines and Spirits	0.1	4%	−65%
Cost of revenue	−1.2	48%
Gross profit	1.3	53% margin	+1pp
SG&A	−0.4	18%	+1pp
Operating profit	0.9	35% margin	+77pp
Tax	−0.3
Interest & other costs	−0.1
Net profit	0.5	19%	+60pp

All figures in billions of U.S. dollars, for Q1 FY26 (period ends May 31, 2025).
Item	Value	Share of revenue	Year over year
Revenue	2.5	100%	−6%
Beer	2.2	88%	−2%
Constellation Wines and Spirits	0.3	12%	−28%
Cost of revenue	−1.2	48%
Gross profit	1.3	50% margin	−2pp
SG&A	−0.5	20%	+3pp
Other	−0.1	2%	+0pp
Operating profit	0.7	28% margin	−7pp
Tax	−0.1
Interest & other costs	−0.1
Net profit	0.5	21%	−12pp

All figures in billions of U.S. dollars, for Q3 FY25 (period ends Nov 30, 2024).
Item	Value	Share of revenue	Year over year
Revenue	2.5	100%	+0%
Beer	2	80%	+3%
Constellation Wines and Spirits	0.4	16%	−14%
Cost of revenue	−1.2	48%
Gross profit	1.3	52% margin	+1pp
SG&A	−0.5	20%	+1pp
Operating profit	0.8	32% margin	+0pp
Interest & other costs	−0.2
Net profit	0.6	25%	+4pp

Quarter by quarter

Pick a quarter and the diagram above changes. Bars compare revenue across the quarters we hold.

Quarter	Period	Reported	Revenue	Year over year	Operating margin	Net profit	Net margin
Q3 FY26	Sep 1 – Nov 30, 2025	Jan 8, 2026	$2.2B	−10%	32%	$0.5B	23%
Q2 FY26	Jun 1 – Aug 31, 2025	Oct 7, 2025	$2.5B	−15%	36%	$0.5B	19%
Q1 FY26	Mar 1 – May 31, 2025	Jul 2, 2025	$2.5B	−6%	28%	$0.5B	21%
Q3 FY25	Sep 1 – Nov 30, 2024	Jan 10, 2025	$2.5B	+0%	32%	$0.6B	25%