Filing Flows › Constellation Brands (STZ) › Q1 FY26
Constellation Brands (STZ) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Jul 2, 2025
Constellation Brands (STZ) reported revenue of $2.7B for the first quarter fiscal 2026 (Q1 FY26), -6% from a year earlier and +16% from the quarter before. Operating margin was 26.7%, net earnings $516M (19.3% of revenue).
Constellation Brands, Q1 FY26: revenue $2.7B (-6% year over year), operating margin 26.7%, net earnings $516M, operating cash flow $637M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.7B | +16% | -6% |
| Gross profit | $1.3B | +14% | -10% |
| Operating profit | $714M | — | -24% |
| Net earnings | $516M | — | -41% |
| Operating cash flow | $637M | +7% | -8% |
| Free cash flow | $444M | +42% | +41% |
What changed
Revenue was $2.7B in Q1 FY26, down 6% year over year and up 16% from the previous quarter.
Gross margin was 47.3%, down 1.8 points from a year earlier. Operating profit was $0.71B, a 26.7% margin (down 6.3 points year over year). Operating expenses grew 20% against a revenue fall of 6%. Net earnings were $0.52B, down 41% year over year. The effective tax rate was 14.3%.
Operating cash flow was $0.64B (down 8% year over year), 122% of net earnings. Non-cash charges added back $0.11B of depreciation and amortization and $0.01B of share-based compensation. Capital expenditures of $0.19B left free cash flow of $0.44B.
Questions
What was Constellation Brands' revenue in the first quarter fiscal 2026?
Constellation Brands (STZ) reported revenue of $2.7B for the first quarter fiscal 2026 (Q1 FY26), -6% from a year earlier and +16% from the quarter before.
Was Constellation Brands profitable in the first quarter fiscal 2026?
Operating profit was $714M (26.7% of revenue) and net earnings $516M.