Slide 1: Business Update
September 2, 2025 Business Update |
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains forward-looking statements that are based on certain assumptions, estimates, expectations, plans, timetables, analyses, and opinions made by management in light of their experience and perception of historical trends, current conditions, and expe
Slide 3: Forward-Looking Statements
Forward-Looking Statements In addition to the risks and uncertainties of ordinary business operations and conditions in the general economy and markets in which we compete, our forward-looking statements contained in this presentation are also subject to the risk, uncertainty, and possible variance
Slide 4: Use of Non-GAAP Financial Measures, Disclaimers, Caution Regarding Outdated Material
Use of Non-GAAP Financial Measures, Disclaimers, Caution Regarding Outdated Material, and Location of Defined Terms This presentation may contain non-GAAP financial measures. These and other non-GAAP financial measures, the purposes for which management uses them, why management believes they are us
Slide 5: Fiscal 2026 Outlook Update
Fiscal 2026 Outlook Update Updated Outlook Prior Outlook Outlook Update Key Drivers Enterprise (6)% to (4)% Organic(1) Enterprise (2)% to +1% Organic(1) Incremental macroeconomic Net Sales headwinds affecting consumer demand Beer (4)% to (2)% Beer flat to +3% Growth (Decline) W&S unchanged W&S (20)%
Slide 6: Ongoing U.S. Consumer Demand Headwinds
Ongoing U.S. Consumer Demand Headwinds Employment in 4,000+ calorie Consumer sentiment remains High-End Beer buy rates declining jobs remains pressured(1) volatile and depressed(2) from ongoing consumer headwinds(3) Construction Employment (100 index = neutral) Total High-End Beer Buy Rates $330 YoY
Slide 7: Socioeconomic Environment Impacting Hispanic Consumer
Socioeconomic Environment Impacting Hispanic Consumer CBI beer brands have higher levels of CBI omnibus survey shows ongoing Hispanic consumer High-End Beer buy exposure to the Hispanic consumer(1) elevated concern among rates down more than total consumer(3) Hispanic consumers(2) Hispanic Consumer
Slide 8: Continued Execution in a Challenging Environment
Continued Execution in a Challenging Environment Gaining distribution, shelf space, and Disciplined innovation growth across Delivering against cost savings volume share across the country new products and pack sizes(3) initiatives and reinvesting in our #1 new beer brand brands +MSD% growth in #6 d
Slide 9: CBI Market Share Gains
CBI Market Share Gains Beer Business Volume Share Gains Mar-25 through Jul-25 Gaining share in 49 of 50 states Vol. Share Change vs YA 1.3 0.5 -0.2 Powered by Bing © GeoNames, Microsoft, TomTom Source: Beer Institute & Company depletion measures, Mar-25 through end of Jul-25 W O R T H R E A C H I N
Slide 10: Appendix: Defined Terms, Financial Information
Appendix Defined Terms Financial Information |
Slide 11: Defined Terms
Defined Terms Term Meaning $ U.S. Dollars Sale and, in certain instances, exclusive license to use the trademarks of a portion of our wine and spirits business, primarily centered around our mainstream wine brands 2025 Wine Divestitures and associated inventory, wineries, vineyards, offices, and fac
Slide 12: Defined Terms
Defined Terms Term Meaning GAAP General accepted accounting principles in the U.S. GM General merchandise High-End Beer Beer that sells above $27.00 a case at retail MoM Month-over-month MSD Mid single-digit NA Not applicable QSR Quick serve restaurant SEC Securities and Exchange Commission Shoppe
Slide 13: Financial Information
Financial Information |
Slide 14: Reconciliations of GAAP to Non-GAAP Financial Measures
Reconciliations of GAAP to Non-GAAP Financial Measures We report our financial results in accordance with GAAP. However, non-GAAP financial measures, as defined in the reconciliation tables below, are provided because management uses this information in evaluating the results of our core operations
Slide 15: Reconciliations of GAAP to Non-GAAP Financial Measures
Reconciliations of GAAP to Non-GAAP Financial Measures Assets held for sale impairment and related expenses Largely in connection with the 2025 Wine Divestitures we recognized contract liabilities and inventory obsolescence expenses, partially offset by changes in net assets held for sale. 2025 Rest
Slide 16: Reconciliations of GAAP to Non-GAAP Financial Measures
Reconciliations of GAAP to Non-GAAP Financial Measures EPS Guidance Guidance Range for the Year Ending February 28, 2026 Forecasted EPS (GAAP) $ 10.77 $ 11.07 Comparable adjustments (1) 0.53 0.53 Forecasted comparable EPS (Non-GAAP) (2) $ 11.30 $ 11.60 (1) Comparable adjustments include: (2) Estimat
Slide 17: Reconciliations of GAAP to Non-GAAP Financial Measures
Reconciliations of GAAP to Non-GAAP Financial Measures Free Cash Flow Guidance Free cash flow, as defined in the reconciliation below, is considered a liquidity measure and is considered to provide useful information to investors about the amount of cash generated, which can then be used, after requ
Slide 18: Constellation Brands
Constellation Brands WORTH REACHING FOR