Constellation Brands (STZ) reports fiscal Q2 2027 results after the market close on October 6, with consensus EPS near $3.55–3.57 and revenue around $2.54 billion following the prior quarter’s $3.43 beat and $2.43 billion revenue. Traders are focused on beer volume trends, where Modelo and Corona have sustained high-end share gains despite industry softness, versus ongoing Wine & Spirits weakness after divestitures. Recent FY2027 comparable EPS guidance of $11.20–11.90 trails the Street’s $12.36, reflecting management’s caution on the consumer backdrop and limited visibility. Key watchpoints include any updates to free cash flow targets near $1.6–1.7 billion, share repurchase pace, and net leverage near 3.0x amid mixed analyst ratings and recent price target reductions.