Constellation Brands: FY26 Q3 earnings call, Jan 8, 2026
On its Jan 8, 2026 earnings call (FY26 Q3), Constellation Brands said 6 of the 10 words Kalshi listed; Parrot’s count agreed with all 10 settlements. Quotes below are at most 25 words each.
UpdatedMarkets
10 words · 6 settled yes · our count agreed on 10 of 10- Kalshi: company speakers + operator
Kalshi
backtest The probabilities on settled rows are a walk-forward backtest: the model as of before each event, computed after Parrot went live; they were not published at the time.
| Word | Result | Our count | All speakers | Agrees | Probability | Market |
|---|---|---|---|---|---|---|
| Headwind | Yes | 11 | 12 | ✓ | 89%transcripts from the transcript model | – |
| Tariff | Yes | 11 | 11 | ✓ | 79%transcripts from the transcript model | – |
| Depletion / Depletions | Yes | 3 | 7 | ✓ | 87%transcripts from the transcript model | – |
| Inventory | Yes | 1 | 1 | ✓ | 76%transcripts from the transcript model | – |
| California | Yes | 1 | 1 | ✓ | 70%transcripts from the transcript model | – |
| Holiday | Yes | 1 | 1 | ✓ | 25%transcripts from the transcript model | – |
| Inflation | No | 0 | 0 | ✓ | 75%transcripts from the transcript model | – |
| Especial | No | 0 | 0 | ✓ | 65%transcripts from the transcript model | – |
| Dividend | No | 0 | 0 | ✓ | 62%transcripts from the transcript model | – |
| ICE | No | 0 | 0 | ✓ | 16%transcripts from the transcript model | – |
Market prices are mid quotes from Kalshi and Polymarket, shown for context, may be delayed by several minutes and are not a signal. Quotes as of Oct 20, 2026 15:46 UTC.
Transcript
quotes of at most 25 wordsSpeaker-labelled transcript · Source and credits · Used to count words; quotes of at most 25 words.
22 matches for “Beer”; 5 quoted, at least 25 words apart.
…and happy New Year. I guess I had a question on your beer op margins. They came in a lot stronger than expected in the…
…full year guidance, which you maintain, it does imply much more modest beer op margins in the fourth quarter, which I know seasonally is a…
Another one on beer margins, though perhaps with a longer-term perspective. So you called out a number of the factors in your prepared release and…
So you mentioned mid-single-digit distribution growth for the beer portfolio in the quarter. Just as we look out to calendar 2026 post the spring resets,…
…year or so? And maybe also you can just touch on the beer category itself and what you're hearing from retailers as we think about…
Where the listed words were said
…starting with Q3 margins. As you indicated, volume declines certainly were a headwind in the quarter. Additional headwinds in the quarter were tariffs, as you…
…as additional assets come online or are put into service. And then tariffs will be a further headwind in Q4, really related to a couple…
Relative to your question related to depletions, I think a couple of things to keep in mind that you don't always see. Some of the…
…a very similar approach. It's the #2 brand in the State of California today. It skews younger relative to our overall portfolio and really has…
…there was a very strong result against our business around the Christmas holiday. Noting, of course, that that's a great reflection of the strength of…
Agents: this page as TSV at /api/v1/appearances/constellation-brands:2026-01-08:earnings_call · words: /api/v1/brief?appearance=constellation-brands:2026-01-08:earnings_call · columnar JSON in #parrot-data · llms.txt · MCP