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

…beverage alcohol this quarter. Our beer business outperformed and accelerated meaningfully quarter-on-quarter. Pacifico became a top 10 beer brand with a very long distribution runway…

…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…

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

…see specific work from Corona, you will see specific work from Modelo. Pacifico just been through the marketing and activation plans for next year, highly…

…to go. Take a brand like that, which is growing right alongside Pacifico. Pacifico now number 10 brand of beer, which is compounding at closer…

…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…

…noted that a key focus in the first half was rebuilding the beer distributor inventories and I think improving days on hand, heading into 3Q.…

…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.…

…we would have visibility to the activities that are going to drive margin and fuel for growth four years from now. With the team in…

…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…

[Victoria] is still very strong out west, and that, like a Pacifico and in fact like a Modelo, also gives us a lot of runway…

…to add in some color. Here's the headline up front, which is distributor inventories are now in a great position, and they're actually still lower…

…to add some color. Before I even actually answer the question of Victoria itself, I think what I want to highlight about Victoria, as well…

…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…