What move does the options market price into Constellation Brands's report?

Implied ±4.2%, either direction.

How often does Constellation Brands move more than the options market prices?

4 of the last 8 reports moved at least as far as the implied move.

STZNYSEBeverages

Constellation Brands, Inc. (STZ) earnings date, market-implied expected move, and options open interest by expiry

145.47

+7.34 · +5.31%

post 145.55 +0.05%

Closed18:58 ET

Open138.00Volume3.6MMkt cap$24.6BP/E13.01EPS11.19Div yield2.82%

Day138.00 – 149.1368%52-wk109.73 – 164.8665%

STZ

Constellation Brands, Inc.

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±4.2%implied · report alone

8Q avg ±5.1%·×0.83·cheap

139.31151.67

straddle ±9.8%

spot 145.49exp Jan 15ATM strike 145ATM straddle 16.85IV 33%

Nov 4 closereport share · term structure

Expected move

Inputs

Next report

Jan 6

after close · in 63 days

est.Q3 FY27

Calendar

Next report

Last report

+2.35%

vs ±3.4% implied · ×0.70

shaded = implied · ▲▼ = realized

Oct 6 '26 · confirmed

Implied vs realized

Linked news

1dSCOR · supplierComscore posts Q3 revenue $76.2 million, net loss $65.5 million, reaffirms 2026 outlook
7dOI · supplierO-I Glass posts Q3 net loss $ (13) million; nine-month net loss $ (1,058) million

News

Largest filed tie

13F top-10 QoQ

−5.75%

shares held · 10 largest managers

13F · Jun 30 '26128d lag

1,034 managers

Top fund weight

1.26%

STZ weight · XLP

N-PORTJun 30 '26

10 funds

Last reportshaded = implied▲▼ = realized× = |realized| ÷ implied

Constellation Brands (STZ) is expected to report on Jan 6 after close (estimated date).

Implied vs realized

8 reports

4 of 8≥ implied

avg implied: ±4.7%
avg realized: ±5.1%

Jan 10 '25Jan 10 '25confirmed±3.1%▼−17.09%×5.55

Apr 9 '25Apr 9 '25confirmed±7.1%▲+0.74%×0.10

Jul 1 '25Jul 1 '25confirmed±4.4%▲+4.48%×1.01

Oct 6 '25Oct 6 '25confirmed±5.1%▲+1.03%×0.20

Q3 FY26Jan 7 '26confirmed±4.7%▲+5.32%×1.13

Apr 8 '26Apr 8 '26confirmed±4.3%▲+8.53%×1.99

Q1 FY27Jun 30 '26confirmed±5.4%▼−1.59%×0.30

Q2 FY27Oct 6 '26confirmed±3.4%▲+2.35%×0.70

quarterimplied−20%0+20%realized×

Q2 FY27±3.4%▲+2.35%×0.70

Q1 FY27±5.4%

Shaded = implied · tick ▲▼ = realized · × = |realized| ÷ impliedSource: options EOD · implied at prior close · realized close to close

Implied vs realized

Positioning

OI · 10 expiries · Oct 30 close

0.44OI · 10 expiries · Oct 30 closeP/C open interest · Jan 15 · first expiry after the report

PUTS · chgexpiry · days · P/CCALLS · chgP/C

5 nearer expiries

632+25%Nov 62d0.91693−16%0.91

323+31%Nov 139d0.79410−8%0.79

4,368−3%Nov 2016d1.004,366+1%1.00

102+89%Nov 2723d0.67152+46%0.67

1—Dec 430d0.502—0.50

3—Dec 1137d1.003—1.00

6,909−1%Dec 1844d1.215,6960%1.21

ExpiryPutsCallsP/C

5 nearer expiries

Nov 62d632+25%693−16%0.91

Nov 139d323+31%410−8%0.79

Nov 2016d4,368−3%4,366

Hatched = puts · solid = calls · bars scaled per expiry · chg = OI vs prior sessionSource: options EOD

Positioning

Linked exposure

scenario · straddle±9.8%

Funds 4

XLP±0.1%

RSP±0.0%

VIG±0.0%

VTV±0.0%

Suppliers 1

OI±4.1%×0.42

Dashed = straddle · × = co-movement · max 501dMethod 2 more funds Source: SEC filings · N-PORT · market data

Linked exposure

Revenue flow

as filedQ2 FY27

22.12%as filednet margin · revenue +8.23% QoQ · +6.13% YoY

Revenue

$2.6B+8.23% QoQ

Gross profit

$1.4B+5.48% QoQ

52.91% margin

Operating income

$805M−4.77% QoQ

30.57% margin

Pre-tax income

$729M−4.03% QoQ

Net income

$582M−13.34% QoQ

22.12% margin

Cost of revenue

$1.4B+12.12% QoQ

Operating expenses

$588M+23.71% QoQ

SG&A $538M

Other operating $50M

Other expense

$76M

Tax

$147M+66.97% QoQ

Revenue$2.6B+8.23%

Gross profit

$1.4B+5.48%

52.91% margin

Operating income

$805M−4.77%

30.57% margin

Pre-tax income

$729M−4.03%

Net income

$582M−13.34%

22.12% margin

Cost of revenue

$1.4B+12.12%

Operating expenses

$588M+23.71%

SG&A $538M

Other operating $50M

Other expense

$76M

Tax$147M+66.97%

flow · deduction · signed % = QoQSource: SEC filings · standardized · QE Aug 31 '26 · width = $

Revenue flow

Intraday

15m bars

Long dash = implied range · Nov 4 close · Hatch = extended hours · ▯ up · ▮ down · bars = volume, 15mSource: market data · 18:45 ET

Intraday

Event sensitivity

CPI ×1.52· ±1.8% vs ±1.2% · 10 releases

eventrelease day|move|up · n×base

CPIconsumer prices±1.8%4 of 10×1.52

CPROFcorporate profits±1.4%5 of 12×1.19

FOMCrate decision±1.3%9 of 24×1.09

PCEpersonal income & outlays±1.3%10 of 19×1.05

GDPgross domestic product±1.1%9 of 19×0.96

PPIproducer prices±1.1%8 of 10×0.92

NFPjobs report±1.1%3 of 10×0.89

Bar = avg |move| to ±2% · tick = ±1.2% avg day · ×base = |move| ÷ ±1.2% · min 6 releases

Earnings history

EPS 3.32 · consensus —

Quarter	Reported	EPS	Consensus
Q2 FY27	Oct 6 '26 · confirmed	3.32	—
Q1 FY27	Jun 30 '26 · confirmed	3.79	—
Q3 FY26	Jan 7 '26 · confirmed	2.88	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod