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10:30
Jan 08
STZ CGC
Guidance for FY26 maintained despite macro headwinds, but beer margin trajectory for FY27-28 will be reassessed in April; tone is cautious but not deteriorating.
"the macroeconomic environment has worsened since that time. That'll all go into our planning process and will be reflected in the guidance that we give in April."
STZ WATCH
Constellation still holds equity in Canopy Growth; management views it as a potential option if cannabis rescheduling occurs, but no active engagement.
"obviously, we have shares in Canopy that we still have available to us. And I think that could ultimately be interesting as that market develops."
CGC WATCH
HIGH
08:00
Oct 07
STZ
Management attributes weakness to cyclical socioeconomic factors (Hispanic consumer sentiment, macro uncertainty) rather than structural category decline, but acknowledges unprecedented volatility and mixed results, leading to a cautious but not panicked tone.
"Our view is that's the significant thing that's been challenging both for us and for the category in general."
STZ WATCH
HIGH