Constellation Brands, Inc. (STZ) delivered a pleasant surprise Wednesday evening, posting third-quarter results that sailed past Wall Street's expectations and sending shares higher in extended trading.
The Numbers
Constellation Brands reported earnings of $3.06 per share, crushing the analyst consensus of $2.64, according to Benzinga Pro data. Revenue came in at $2.22 billion, comfortably ahead of the $2.16 billion that analysts had penciled in.
Not bad for a quarter that CEO Bill Newlands described as "challenged." He noted the operating environment "remained challenged, which was in line with our expectations and relatively consistent with the prior quarter."
But here's the thing: even in tough conditions, Constellation's beer business managed to gain both dollar and volume share in tracked channels while picking up additional distribution points. Meanwhile, the wine and spirits division continued outperforming the broader U.S. wine industry. Sometimes winning just means losing less slowly than everyone else.
Looking Ahead
The company held firm on its fiscal 2026 adjusted earnings guidance of $11.30 to $11.60 per share, right in line with the $11.49 analyst estimate.
STZ stock jumped 2.64% to $144.20 in after-hours trading Wednesday.
