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Sentiment · FY2026 Q4
| Analyst | Firm | Questions | ChallengePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|---|
| Bonnie Herzog | Goldman Sachs | 7 | 29% |
| Dara Mohsenian | Morgan Stanley | 7 | 43% |
| Filippo Falorni | Citigroup | 7 | 0% |
| Kaumil Gajrawala | Jefferies | 5 | 60% |
| Nik Modi | RBC Capital Markets | 5 | 80% |
| Rob Moskow | TD Cowen | 5 | 0% |
| Rob Ottenstein | Evercore ISI | 5 | 20% |
| Lauren Lieberman | Barclays | 5 | 60% |
| Nadine Sarwat | Bernstein | 4 | 50% |
| Will Kirk | ROTH Capital Partners | 4 | 25% |
| Firm | Analysts | Questions | ChallengePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|---|
| Citigroup | 1 | 7 | 0% |
| Goldman Sachs | 1 | 7 | 29% |
| Morgan Stanley | 1 | 7 | 43% |
| JPMorgan | 2 |
| 6 |
| 0% |
| Bank of America | 2 | 5 | 20% |
| Evercore ISI | 1 | 5 | 20% |
| Jefferies | 1 | 5 | 60% |
| Barclays | 1 | 5 | 60% |
Beer depletions turned positive in Q4 with sequential improvement, though enterprise net sales still declined approximately 11% including wine divestiture impacts as the fiscal year closed with FY2027 guidance of -1% to +1% beer net sales. CEO Bill Newlands transitioned to Nicholas Fink while beer margins were guided down to 37-38% on Veracruz brewery startup costs and aggressive marketing investment was planned for FY2027. The $4 billion buyback program continued executing with $900 million+ returned in FY2026, and the wine category faced deepening headwinds including a Canada import ban.
Demand | Competitive Dynamics | Margin | Guidance Reliability | Macroeconomic | Cost Pressure | Capex Investment | Capital Allocation | |
|---|---|---|---|---|---|---|---|---|
| 2025Q2 | 4 | 4 | 2 | 2 | 1 | 1 | 2 | |
| 2025Q3 | 6 | 4 | 2 | 2 | 3 | 2 | 2 | |
| 2025Q4 | 9 | 4 | 7 | 4 | 6 | 4 | 2 | 1 |
| 2026Q1 | 8 | 4 | 1 | 1 | 3 | 1 | ||
| 2026Q2 | 11 | 6 | 4 | 2 | 1 | 2 | 1 | 1 |
| 2026Q3 | 9 | 5 | 3 | 3 | 1 | 2 | 1 | 1 |
| 2026Q4 | 5 | 3 | 4 | 2 | 1 | 3 | 1 |
| '25Q2 | '25Q3 | '25Q4 | '26Q1 | '26Q2 | '26Q3 | '26Q4 | |
|---|---|---|---|---|---|---|---|
| Demand | 4 | 6 | 9 | 8 | 11 | 9 | 5 |
| Competitive Dynamics | 4 | 4 | 4 | 4 | 6 | 5 | 3 |
| Margin | 2 | 2 | 7 | 1 | 4 | 3 | 4 |
| Guidance Reliability | 2 | 2 | 4 | 1 | 2 | 3 | 2 |
| Macroeconomic | 1 | 3 | 6 | 3 | 1 | 1 | |
| Cost Pressure | 1 | 4 | 1 | 2 | 2 | 1 | |
| Capex Investment | 2 | 2 | 1 | 1 | 3 | ||
| Capital Allocation | 2 | 2 | 1 | 1 | 1 | 1 |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
STZ Constellation Brands | 3 | -11.3% | |
| BF-B Brown–Forman | 3 | -4.9% |