<p>Constellation Brands（纽约证券交易所代码：STZ）在其投资组合中的表现最近受到关注，因为它正在应对一个需求疲软和竞争压力加大的挑战性消费环境。随着这家啤酒巨头将重点转向高端品类以推动销售，预计即将发布的财报将揭示公司如何在短期挑战与长期战略之间取得平衡。</p>
<p><img src="https://imageproxy.pbkrs.com/https://cdn.news.alphastreet.com/wp-content/uploads/2025/10/Constellation-Brands-Q2-2026-Earnings.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1280" height="700" original-src="https://imageproxy.pbkrs.com/https://cdn.news.alphastreet.com/wp-content/uploads/2025/10/Constellation-Brands-Q2-2026-Earnings.jpg"/></p>
<h2>预估</h2>
<p><strong>当这家总部位于纽约的酿酒商在 1 月 7 日公布其第三季度业绩时，华尔街预计总销售额为 21.7 亿美元，调整后的每股收益为 2.64 美元。</strong> 这低于去年同期每股收益 3.25 美元和销售额 24.6 亿美元。在最近的一个季度中，收益超出了分析师的预期，而收入则未能达到预期。</p>
<p>对于股票而言，2025 年是一个充满挑战的一年，股价下跌超过 37%，主要反映了投资者对核心啤酒业务需求减弱和高端饮品组合挑战的担忧。由于消费者偏好的变化和未来增长的不确定性，长期前景依然谨慎。值得注意的是，沃伦·巴菲特的伯克希尔·哈撒韦最近的股票购买和股息上调未能提振投资者情绪。然而，低估值为投资者提供了机会，特别是对于那些希望利用健康股息支付的人。</p>
<p><strong><em>另请阅读：Constellation Brands 第二季度收益因销售下降而减少</em></strong></p>
<h2>第二季度疲软</h2>
<p>在第二季度，净销售额同比下降 15.5%，降至 26.5 亿美元，反映出_葡萄酒和烈酒_及_啤酒_销售的下降。<strong>管理层表示，预计 2026 财年的企业有机净销售将下降 4-6%。</strong> 第二季度的收益（不包括特殊项目）从去年同期的每股 4.32 美元降至每股 3.63 美元。按报告计算，净收入为 4.66 亿美元，或每股 2.65 美元，而 2025 年第二季度则亏损 12 亿美元，或每股 6.59 美元。</p>
<p>在第二季度财报电话会议上，Constellation Brands 的首席执行官比尔·纽兰德在回应管理层谨慎展望的问题时表示：<em>“我们经历了前所未有的波动，结果非常复杂。我们非常仔细地跟踪邮政编码数据，您在高西班牙裔邮政编码地区看到的结果显著低于整体市场。我们在整体市场中一些前五个州的邮政编码中看到了一些积极的回升，那些邮政编码在整体消费者基础中占比较高。”</em></p>
<h2>缺乏活力</h2>
<p><strong>需求放缓似乎是由宏观经济逆风和人口结构的长期变化共同驱动的，因为年轻的、更加注重健康的消费者减少了人均消费。</strong> 此外，销售还面临来自与大麻相关产品的增量压力，这些产品在某些社交和休闲场合中越来越多地取代了酒精，原因是政府政策的有利影响。然而，酒精被认为是一个相对具有韧性的消费品类，随着消费模式的演变，能够恢复。</p>
<p>Constellation Brands 的股票在周五下午下跌了 2%。过去六个月，股价下跌了 15%。过去 12 个月的平均股价为 164.78 美元。</p>
<p>这篇文章最初出现在 AlphaStreet，标题为 “Constellation Brands 即将公布 2026 年第三季度收益。以下是预期内容。”</p>

星座品牌-A

<p>星座品牌-A (NYSE: STZ) 定于 1 月 7 日公布其 2026 年第三季度财报。华尔街预计总销售额为 21.7 亿美元，调整后每股收益为 2.64 美元，较去年同期的每股 3.25 美元和销售额 24.6 亿美元有所下降。公司面临需求疲软和竞争压力的挑战，专注于高端品类以推动销售。尽管最近巴菲特的伯克希尔哈撒韦进行了股票购买并提高了股息，但投资者情绪依然低迷。该股票在过去六个月中下跌了 15%</p>

<p>Constellation Brands’ (NYSE: STZ) performance across its portfolio has been under scrutiny recently as it navigates a challenging consumer environment marked by sluggish demand and competitive pressures. With the beer giant shifting its focus to premium categories to drive sales, the upcoming earnings report is expected to shed light on how the company balances near-term challenges with long-term strategy.</p>
<div class="lb-trans"><p>Constellation Brands（纽约证券交易所代码：STZ）在其投资组合中的表现最近受到关注，因为它正在应对一个需求疲软和竞争压力加大的挑战性消费环境。随着这家啤酒巨头将重点转向高端品类以推动销售，预计即将发布的财报将揭示公司如何在短期挑战与长期战略之间取得平衡。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://cdn.news.alphastreet.com/wp-content/uploads/2025/10/Constellation-Brands-Q2-2026-Earnings.jpg" alt="" original-src="https://cdn.news.alphastreet.com/wp-content/uploads/2025/10/Constellation-Brands-Q2-2026-Earnings.jpg"/></p>
<h2>Estimates</h2>
<div class="lb-trans"><h2>预估</h2>
</div><p><strong>When the New York-headquartered brewer reports its third-quarter results on January 7, Wall Street will be expecting total sales of $2.17 billion and adjusted earnings of $2.64 per share.</strong> That is lower than earnings of $3.25 per share reported in the prior-year quarter on sales of $2.46 billion. In the most recent quarter, earnings beat analysts’ estimates while revenues missed.</p>
<div class="lb-trans"><p><strong>当这家总部位于纽约的酿酒商在 1 月 7 日公布其第三季度业绩时，华尔街预计总销售额为 21.7 亿美元，调整后的每股收益为 2.64 美元。</strong> 这低于去年同期每股收益 3.25 美元和销售额 24.6 亿美元。在最近的一个季度中，收益超出了分析师的预期，而收入则未能达到预期。</p>
</div><p>For the stock, 2025 was a challenging year as it dropped more than 37%, primarily reflecting investor concern over weakening demand in the core beer business and portfolio challenges in premium beverages. The long-term outlook remains cautious due to a shift in consumer preferences and uncertainty over future growth. Notably, a recent share purchase by Warren Buffett’s Berkshire Hathaway and a dividend hike failed to lift investor sentiment. Nevertheless, the low valuation presents an investment opportunity, particularly to those looking to take advantage of the healthy dividend payouts.</p>
<div class="lb-trans"><p>对于股票而言，2025 年是一个充满挑战的一年，股价下跌超过 37%，主要反映了投资者对核心啤酒业务需求减弱和高端饮品组合挑战的担忧。由于消费者偏好的变化和未来增长的不确定性，长期前景依然谨慎。值得注意的是，沃伦·巴菲特的伯克希尔·哈撒韦最近的股票购买和股息上调未能提振投资者情绪。然而，低估值为投资者提供了机会，特别是对于那些希望利用健康股息支付的人。</p>
</div><p><strong><em>Also Read:</em> Constellation Brands Q2 earnings decline on lower sales</strong></p>
<div class="lb-trans"><p><strong><em>另请阅读：Constellation Brands 第二季度收益因销售下降而减少</em></strong></p>
</div><h2>Weak Q2</h2>
<div class="lb-trans"><h2>第二季度疲软</h2>
</div><p>In the second quarter, net sales dropped 15.5% year-over-year to $2.65 billion, reflecting a decline in <em>Wine &amp; Spirits</em> and <em>Beer</em> sales. <strong>The management said it expects enterprise organic net sales to decline 4-6% in fiscal 2026</strong>. Q2 earnings, excluding special items, declined to $3.63 per share from $4.32 per share in the prior-year quarter. On a reported basis, net income was $466 million or $2.65 per share, compared to a loss of $1.20 billion or $6.59 per share in Q2 2025.</p>
<div class="lb-trans"><p>在第二季度，净销售额同比下降 15.5%，降至 26.5 亿美元，反映出_葡萄酒和烈酒_及_啤酒_销售的下降。<strong>管理层表示，预计 2026 财年的企业有机净销售将下降 4-6%。</strong> 第二季度的收益（不包括特殊项目）从去年同期的每股 4.32 美元降至每股 3.63 美元。按报告计算，净收入为 4.66 亿美元，或每股 2.65 美元，而 2025 年第二季度则亏损 12 亿美元，或每股 6.59 美元。</p>
</div><p>Responding to a question on management’s cautious outlook during the Q2 earnings call, Constellation Brands’ CEO Bill Newlands said, <em>“We’ve seen unprecedented volatility, and there’s very mixed results. One of the things that we track very carefully is zip code data, and the results that you are seeing in high Hispanic zip code areas are significantly worse than what you see in the general market. We’ve seen some positive uptick in some of our top five states within the general market where those zip codes, where the general market zip codes are a higher proportion of the overall consumer base.”</em></p>
<div class="lb-trans"><p>在第二季度财报电话会议上，Constellation Brands 的首席执行官比尔·纽兰德在回应管理层谨慎展望的问题时表示：<em>“我们经历了前所未有的波动，结果非常复杂。我们非常仔细地跟踪邮政编码数据，您在高西班牙裔邮政编码地区看到的结果显著低于整体市场。我们在整体市场中一些前五个州的邮政编码中看到了一些积极的回升，那些邮政编码在整体消费者基础中占比较高。”</em></p>
</div><h2>Missing Fizz</h2>
<div class="lb-trans"><h2>缺乏活力</h2>
</div><p><strong>The demand slowdown appears to be driven by a combination of macroeconomic headwinds and a long-term shift in demographics, as younger, more health-conscious consumers pull back on per-capita consumption.</strong> Also, sales are facing incremental pressure from cannabis-related products, which are increasingly replacing alcohol in certain social and recreational occasions due to favorable government policies. However, alcohol is considered a relatively resilient consumer category that can recover as consumption patterns evolve.</p>
<div class="lb-trans"><p><strong>需求放缓似乎是由宏观经济逆风和人口结构的长期变化共同驱动的，因为年轻的、更加注重健康的消费者减少了人均消费。</strong> 此外，销售还面临来自与大麻相关产品的增量压力，这些产品在某些社交和休闲场合中越来越多地取代了酒精，原因是政府政策的有利影响。然而，酒精被认为是一个相对具有韧性的消费品类，随着消费模式的演变，能够恢复。</p>
</div><p>Constellation Brands’ stock was trading down 2% on Friday afternoon. The shares have declined 15% in the past six months. The average stock price for the last 12 months is $164.78.</p>
<div class="lb-trans"><p>Constellation Brands 的股票在周五下午下跌了 2%。过去六个月，股价下跌了 15%。过去 12 个月的平均股价为 164.78 美元。</p>
</div><p>The post Constellation Brands set to report Q3 2026 earnings. Here’s what to expect first appeared on AlphaStreet.</p>
<div class="lb-trans"><p>这篇文章最初出现在 AlphaStreet，标题为 “Constellation Brands 即将公布 2026 年第三季度收益。以下是预期内容。”</p>
</div>

星座品牌-A 即将公布 2026 年第三季度的收益报告。以下是预期内容