Constellation Brands: FY27 Q2 earnings call, Oct 7, 2026

…make sure that we were covering off, and keeping shelves full and consumers satisfied everywhere. But albeit with some inefficiencies as we were working hard…

…pockets of growth that we can go after, both with our Hispanic consumer, but you think about the fall. We are getting into football season.…

…we've said we're going to have to access some areas where the consumer is and where the growth is, and whether we're doing that organically…

The best consumer companies have a multi-year continuous improvement program, and that is built out where we would have visibility to the activities that are…

…our brands and the relevance and saliency of our brands to our consumers. There are specific things we can do, right? Drive distribution, drive awareness,…

…What we did learn from it is it's an opportunity to reengage consumers and younger consumers around the beer occasion, around sports. It doesn't have…

…the number one dollar share gainer in beverage alcohol this quarter. Our beer business outperformed and accelerated meaningfully quarter-on-quarter. Pacifico became a top 10 beer…

…shareholders. That's just going to come back to our evolved focus on marketing, our enhanced execution, discipline, and pushing the organization to continue to deliver.…

…half of the year, and that was going to impact your gross margins specifically. I think today, based on the guidance, and correct me if…

…thank you for standing by. Greetings and welcome to the Constellation Brands Fiscal Year 2027 second quarter earnings call. At this time, all participants will…

…company's playbook is second to none, just world-class. You can see with Pacifico compounding it at something like a 20% growth rate year-to-date, as the…

…levels are healthy. We have spent much of the first half rebuilding distributor inventory levels, and while there is always going to be month-to-month variability,…

…of the big ones and continue the journey of the Pacifico and Victoria, that alone will create enormous value. But that doesn't mean that there…

…about, had we not shipped to the levels we did to rebuild inventories, if we hadn't done that, we still would've come in above our…

…a big step up in the first half of the year. Obviously, World Cup was part of it. I hear lots of indications from you,…

…saw non-timing related acceleration in the month of September as our college football and other programming took place. And we are seeing a very healthy…

…it's come up a couple of times now. As we think about inflation, I'd say that I'm not sure there's been a year in my…