Subtext

Constellation Brands, Inc. STZ

SectorConsumer Staples
Transcripts68
Date range2007-10-05 – 2025-04-10
Calls charted68

Sentiment timeline

Net Loughran-McDonald sentiment per call (×1000), earliest → latest.

-20-10+0+10+202008 Q22011 Q12013 Q32015 Q42018 Q12020 Q22022 Q32024 Q42008 Q2 · Overall: +8.52008 Q3 · Overall: +5.62008 Q4 · Overall: +5.72009 Q1 · Overall: +13.72009 Q2 · Overall: +3.22009 Q3 · Overall: +7.02010 Q1 · Overall: +1.12010 Q3 · Overall: +0.92010 Q4 · Overall: +6.82011 Q1 · Overall: +8.22011 Q3 · Overall: +1.72011 Q4 · Overall: +3.62012 Q1 · Overall: +5.42012 Q2 · Overall: +7.62012 Q3 · Overall: +6.42012 Q4 · Overall: +10.02013 Q1 · Overall: +10.62013 Q2 · Overall: +11.82013 Q3 · Overall: +8.52013 Q4 · Overall: +10.62014 Q1 · Overall: +3.02014 Q2 · Overall: +5.52014 Q3 · Overall: +17.52014 Q4 · Overall: +9.12015 Q1 · Overall: +5.12015 Q2 · Overall: +8.72015 Q3 · Overall: +5.82015 Q4 · Overall: +12.12016 Q1 · Overall: +12.12016 Q2 · Overall: +7.72016 Q3 · Overall: +13.62016 Q4 · Overall: +16.12017 Q1 · Overall: +7.12017 Q2 · Overall: +12.62017 Q3 · Overall: +7.32017 Q4 · Overall: +9.12018 Q1 · Overall: +9.32018 Q2 · Overall: +5.22018 Q3 · Overall: +6.22018 Q4 · Overall: +13.72019 Q1 · Overall: +11.72019 Q2 · Overall: +13.02019 Q3 · Overall: +11.22019 Q4 · Overall: +9.82020 Q1 · Overall: +10.32020 Q2 · Overall: +11.32020 Q3 · Overall: +12.42020 Q4 · Overall: +2.12021 Q1 · Overall: +0.62021 Q2 · Overall: +6.52021 Q3 · Overall: +7.32021 Q4 · Overall: +8.82022 Q1 · Overall: +2.92022 Q2 · Overall: -1.82022 Q3 · Overall: +4.22022 Q4 · Overall: +8.32023 Q1 · Overall: +9.82023 Q2 · Overall: +8.92023 Q3 · Overall: +6.12023 Q4 · Overall: +5.72024 Q1 · Overall: +9.22024 Q2 · Overall: +3.82024 Q3 · Overall: +11.82024 Q4 · Overall: +7.82025 Q1 · Overall: +7.42025 Q2 · Overall: +5.12025 Q3 · Overall: -4.72025 Q4 · Overall: +2.2
Overall

CEO vs CFO

Average sentiment of each executive's remarks per call. Divergence is a signal.

-31-16+0+16+312008 Q22011 Q12013 Q32015 Q42018 Q12020 Q22022 Q32024 Q42008 Q2 · CEO: +12.72008 Q3 · CEO: +10.22008 Q4 · CEO: +12.72009 Q1 · CEO: +18.42009 Q2 · CEO: +10.22009 Q3 · CEO: +10.82010 Q1 · CEO: +4.92010 Q3 · CEO: +6.62010 Q4 · CEO: +14.42011 Q1 · CEO: +12.42011 Q3 · CEO: +4.22011 Q4 · CEO: +7.22012 Q1 · CEO: +16.12012 Q2 · CEO: +7.02012 Q3 · CEO: +10.62012 Q4 · CEO: +18.22013 Q1 · CEO: +18.82013 Q2 · CEO: +22.22013 Q3 · CEO: +12.82013 Q4 · CEO: +12.32014 Q1 · CEO: +14.52014 Q2 · CEO: +9.22014 Q3 · CEO: +25.52014 Q4 · CEO: +12.72015 Q1 · CEO: +12.02015 Q2 · CEO: +15.22015 Q3 · CEO: +16.12015 Q4 · CEO: +23.02016 Q1 · CEO: +14.72016 Q2 · CEO: +16.02016 Q3 · CEO: +21.22016 Q4 · CEO: +22.62017 Q1 · CEO: +10.22017 Q2 · CEO: +19.42017 Q3 · CEO: +11.82017 Q4 · CEO: +15.92018 Q1 · CEO: +15.92018 Q2 · CEO: +9.32018 Q3 · CEO: +11.62018 Q4 · CEO: +19.72019 Q1 · CEO: +15.92019 Q2 · CEO: +16.52019 Q3 · CEO: +25.62019 Q4 · CEO: +27.02020 Q1 · CEO: +21.12020 Q2 · CEO: +19.92020 Q3 · CEO: +24.32020 Q4 · CEO: +11.12021 Q1 · CEO: +9.22021 Q2 · CEO: +17.72021 Q3 · CEO: +20.32021 Q4 · CEO: +17.82022 Q1 · CEO: +14.92022 Q2 · CEO: +10.32022 Q3 · CEO: +15.52022 Q4 · CEO: +19.72023 Q1 · CEO: +16.32023 Q2 · CEO: +14.92023 Q3 · CEO: +16.02023 Q4 · CEO: +12.22024 Q1 · CEO: +20.22024 Q2 · CEO: +10.92024 Q3 · CEO: +25.12024 Q4 · CEO: +20.22025 Q1 · CEO: +15.02025 Q2 · CEO: +16.22025 Q3 · CEO: +3.92025 Q4 · CEO: +5.72008 Q2 · CFO: -4.22008 Q3 · CFO: +7.52008 Q4 · CFO: +4.52009 Q1 · CFO: +12.82009 Q2 · CFO: +1.72009 Q3 · CFO: +5.02010 Q1 · CFO: +0.62010 Q3 · CFO: +2.52010 Q4 · CFO: +0.72011 Q1 · CFO: +11.72011 Q3 · CFO: +4.62011 Q4 · CFO: +5.42012 Q1 · CFO: +1.12012 Q2 · CFO: +13.32012 Q3 · CFO: +8.12012 Q4 · CFO: +10.82013 Q1 · CFO: +10.72013 Q2 · CFO: +9.42013 Q3 · CFO: +12.72013 Q4 · CFO: +14.82014 Q1 · CFO: -0.52014 Q2 · CFO: +13.62014 Q3 · CFO: +16.82014 Q4 · CFO: +10.82015 Q1 · CFO: +3.42015 Q2 · CFO: +8.82015 Q3 · CFO: +5.92015 Q4 · CFO: +10.02016 Q1 · CFO: +16.92016 Q2 · CFO: +7.02016 Q3 · CFO: +10.62016 Q4 · CFO: +12.82017 Q1 · CFO: +11.72017 Q2 · CFO: +6.42017 Q3 · CFO: +7.72017 Q4 · CFO: +5.52018 Q1 · CFO: +5.82018 Q2 · CFO: +1.12018 Q3 · CFO: +7.52018 Q4 · CFO: +10.32019 Q1 · CFO: +12.72019 Q2 · CFO: +11.92019 Q3 · CFO: +3.82019 Q4 · CFO: +2.32020 Q1 · CFO: +8.72020 Q2 · CFO: +8.12020 Q3 · CFO: +7.62020 Q4 · CFO: -1.42021 Q1 · CFO: -6.22021 Q2 · CFO: -2.92021 Q3 · CFO: -0.62021 Q4 · CFO: +0.92022 Q1 · CFO: -9.52022 Q2 · CFO: -4.82022 Q3 · CFO: -5.92022 Q4 · CFO: -1.12023 Q1 · CFO: +9.92023 Q2 · CFO: +6.92023 Q3 · CFO: +3.52023 Q4 · CFO: +6.32024 Q1 · CFO: +7.22024 Q2 · CFO: +6.82024 Q3 · CFO: +3.72024 Q4 · CFO: +2.92025 Q1 · CFO: +6.12025 Q2 · CFO: +0.02025 Q3 · CFO: -9.42025 Q4 · CFO: +7.1
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-32-16+0+16+322008 Q22011 Q12013 Q32015 Q42018 Q12020 Q22022 Q32024 Q42008 Q2 · Prepared remarks: +12.92008 Q3 · Prepared remarks: +9.12008 Q4 · Prepared remarks: +12.02009 Q1 · Prepared remarks: +12.92009 Q2 · Prepared remarks: +7.82009 Q3 · Prepared remarks: +8.02010 Q1 · Prepared remarks: +7.02010 Q3 · Prepared remarks: +8.32010 Q4 · Prepared remarks: +10.62011 Q1 · Prepared remarks: +15.02011 Q3 · Prepared remarks: +11.22011 Q4 · Prepared remarks: +9.02012 Q1 · Prepared remarks: +11.62012 Q2 · Prepared remarks: +14.82012 Q3 · Prepared remarks: +14.82012 Q4 · Prepared remarks: +14.72013 Q1 · Prepared remarks: +17.92013 Q2 · Prepared remarks: +20.02013 Q3 · Prepared remarks: +13.92013 Q4 · Prepared remarks: +15.52014 Q1 · Prepared remarks: +15.42014 Q2 · Prepared remarks: +18.42014 Q3 · Prepared remarks: +20.72014 Q4 · Prepared remarks: +13.72015 Q1 · Prepared remarks: +14.62015 Q2 · Prepared remarks: +13.62015 Q3 · Prepared remarks: +20.72015 Q4 · Prepared remarks: +26.92016 Q1 · Prepared remarks: +20.22016 Q2 · Prepared remarks: +16.52016 Q3 · Prepared remarks: +21.72016 Q4 · Prepared remarks: +24.12017 Q1 · Prepared remarks: +14.92017 Q2 · Prepared remarks: +20.12017 Q3 · Prepared remarks: +22.52017 Q4 · Prepared remarks: +19.12018 Q1 · Prepared remarks: +18.72018 Q2 · Prepared remarks: +12.72018 Q3 · Prepared remarks: +14.02018 Q4 · Prepared remarks: +27.52019 Q1 · Prepared remarks: +22.92019 Q2 · Prepared remarks: +16.72019 Q3 · Prepared remarks: +19.72019 Q4 · Prepared remarks: +18.62020 Q1 · Prepared remarks: +21.22020 Q2 · Prepared remarks: +16.32020 Q3 · Prepared remarks: +18.42020 Q4 · Prepared remarks: +14.22021 Q1 · Prepared remarks: +6.22021 Q2 · Prepared remarks: +12.12021 Q3 · Prepared remarks: +12.12021 Q4 · Prepared remarks: +13.32022 Q1 · Prepared remarks: +4.72022 Q2 · Prepared remarks: +4.32022 Q3 · Prepared remarks: +5.52022 Q4 · Prepared remarks: +13.62023 Q1 · Prepared remarks: +17.52023 Q2 · Prepared remarks: +13.32023 Q3 · Prepared remarks: +13.42023 Q4 · Prepared remarks: +8.12024 Q1 · Prepared remarks: +10.42024 Q2 · Prepared remarks: +10.72024 Q3 · Prepared remarks: +17.82024 Q4 · Prepared remarks: +13.12025 Q1 · Prepared remarks: +11.12025 Q2 · Prepared remarks: +8.62025 Q3 · Prepared remarks: -4.12025 Q4 · Prepared remarks: +7.62008 Q2 · Q&A responses: +7.22008 Q3 · Q&A responses: +8.52008 Q4 · Q&A responses: +6.12009 Q1 · Q&A responses: +19.32009 Q2 · Q&A responses: +3.92009 Q3 · Q&A responses: +9.42010 Q1 · Q&A responses: +0.52010 Q3 · Q&A responses: -0.42010 Q4 · Q&A responses: +5.52011 Q1 · Q&A responses: +8.22011 Q3 · Q&A responses: -3.92011 Q4 · Q&A responses: +2.92012 Q1 · Q&A responses: +3.42012 Q2 · Q&A responses: +4.52012 Q3 · Q&A responses: +4.12012 Q4 · Q&A responses: +10.92013 Q1 · Q&A responses: +10.72013 Q2 · Q&A responses: +11.92013 Q3 · Q&A responses: +11.32013 Q4 · Q&A responses: +10.22014 Q1 · Q&A responses: -1.92014 Q2 · Q&A responses: -0.62014 Q3 · Q&A responses: +20.72014 Q4 · Q&A responses: +8.82015 Q1 · Q&A responses: +4.72015 Q2 · Q&A responses: +8.82015 Q3 · Q&A responses: +4.02015 Q4 · Q&A responses: +6.72016 Q1 · Q&A responses: +8.32016 Q2 · Q&A responses: +6.02016 Q3 · Q&A responses: +14.12016 Q4 · Q&A responses: +14.22017 Q1 · Q&A responses: +7.22017 Q2 · Q&A responses: +11.12017 Q3 · Q&A responses: +3.52017 Q4 · Q&A responses: +7.52018 Q1 · Q&A responses: +8.72018 Q2 · Q&A responses: +0.52018 Q3 · Q&A responses: +5.22018 Q4 · Q&A responses: +4.22019 Q1 · Q&A responses: +9.02019 Q2 · Q&A responses: +14.12019 Q3 · Q&A responses: +10.02019 Q4 · Q&A responses: +10.12020 Q1 · Q&A responses: +11.12020 Q2 · Q&A responses: +13.42020 Q3 · Q&A responses: +17.22020 Q4 · Q&A responses: -4.12021 Q1 · Q&A responses: +3.42021 Q2 · Q&A responses: +6.72021 Q3 · Q&A responses: +10.72021 Q4 · Q&A responses: +8.42022 Q1 · Q&A responses: +4.62022 Q2 · Q&A responses: +4.52022 Q3 · Q&A responses: +5.12022 Q4 · Q&A responses: +9.42023 Q1 · Q&A responses: +8.92023 Q2 · Q&A responses: +10.52023 Q3 · Q&A responses: +7.92023 Q4 · Q&A responses: +10.02024 Q1 · Q&A responses: +17.62024 Q2 · Q&A responses: +7.02024 Q3 · Q&A responses: +17.52024 Q4 · Q&A responses: +11.02025 Q1 · Q&A responses: +12.22025 Q2 · Q&A responses: +7.92025 Q3 · Q&A responses: +1.22025 Q4 · Q&A responses: +5.5
Prepared remarksQ&A responses

Tone vs forward expectations

Management tone next to Wall Street's forward-looking numbers (glopardo): the 12-month forward EPS estimate and the forward P/E per call.

Forward EPS estimate

$3.11$9.45$15.792008 Q22011 Q12013 Q32015 Q42018 Q12020 Q22022 Q32024 Q42014 Q1: $3.982014 Q2: $4.262014 Q3: $4.542014 Q4: $4.652015 Q1: $4.922015 Q2: $5.112015 Q3: $5.382015 Q4: $5.742016 Q1: $6.172016 Q2: $6.532016 Q3: $6.792016 Q4: $7.242017 Q1: $7.612017 Q2: $8.252017 Q3: $8.652017 Q4: $9.132018 Q1: $9.672018 Q2: $10.112018 Q3: $10.002018 Q4: $10.042019 Q1: $9.632019 Q2: $8.942019 Q3: $9.012019 Q4: $9.092020 Q1: $9.302020 Q2: $8.812020 Q3: $9.522020 Q4: $10.032021 Q1: $10.532021 Q2: $10.642021 Q3: $11.032021 Q4: $11.542022 Q1: $11.682022 Q2: $11.782022 Q3: $11.972022 Q4: $12.402023 Q1: $11.842023 Q2: $12.122023 Q3: $12.682023 Q4: $13.142024 Q1: $13.562024 Q2: $14.172024 Q3: $14.542024 Q4: $14.92

Forward P/E

12.0918.9725.852008 Q22011 Q12013 Q32015 Q42018 Q12020 Q22022 Q32024 Q42014 Q1: 20.512014 Q2: 20.192014 Q3: 19.212014 Q4: 20.042015 Q1: 23.852015 Q2: 23.322015 Q3: 24.382015 Q4: 24.902016 Q1: 23.442016 Q2: 23.932016 Q3: 23.962016 Q4: 21.492017 Q1: 21.302017 Q2: 21.812017 Q3: 23.642017 Q4: 23.932018 Q1: 23.512018 Q2: 22.672018 Q3: 21.522018 Q4: 17.152019 Q1: 17.712019 Q2: 20.612019 Q3: 23.022019 Q4: 20.202020 Q1: 13.042020 Q2: 20.282020 Q3: 20.292020 Q4: 21.432021 Q1: 22.132021 Q2: 21.982021 Q3: 19.822021 Q4: 20.892022 Q1: 19.042022 Q2: 19.572022 Q3: 20.132022 Q4: 19.312023 Q1: 18.242023 Q2: 20.372023 Q3: 20.522023 Q4: 18.462024 Q1: 19.452024 Q2: 18.612024 Q3: 17.262024 Q4: 15.30

Divergence watch ⚑

Quarters where tone and the forward EPS estimate moved opposite ways.

  • 2014 Q4 tone ↓ -8.4 fwd EPS ↑ +0.11 Tone cooled even as the forward EPS estimate rose.
  • 2015 Q1 tone ↓ -4.0 fwd EPS ↑ +0.27 Tone cooled even as the forward EPS estimate rose.
  • 2015 Q3 tone ↓ -2.9 fwd EPS ↑ +0.27 Tone cooled even as the forward EPS estimate rose.
  • 2016 Q2 tone ↓ -4.4 fwd EPS ↑ +0.36 Tone cooled even as the forward EPS estimate rose.
  • 2017 Q1 tone ↓ -9.0 fwd EPS ↑ +0.37 Tone cooled even as the forward EPS estimate rose.
  • 2017 Q3 tone ↓ -5.3 fwd EPS ↑ +0.40 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q2 tone ↓ -4.1 fwd EPS ↑ +0.44 Tone cooled even as the forward EPS estimate rose.
  • 2020 Q4 tone ↓ -10.3 fwd EPS ↑ +0.50 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q1 tone ↓ -5.9 fwd EPS ↑ +0.14 Tone cooled even as the forward EPS estimate rose.
  • 2023 Q3 tone ↓ -2.8 fwd EPS ↑ +0.56 Tone cooled even as the forward EPS estimate rose.
  • 2024 Q2 tone ↓ -5.4 fwd EPS ↑ +0.61 Tone cooled even as the forward EPS estimate rose.
  • 2024 Q4 tone ↓ -3.9 fwd EPS ↑ +0.38 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q42025-04-10+2.2——View →
2025 Q32025-01-10-4.7——View →
2025 Q22024-10-03+5.1——View →
2025 Q12024-07-03+7.4——View →
2024 Q42024-04-11+7.8$14.9215.3View →
2024 Q32024-01-05+11.8$14.5417.3View →
2024 Q22023-10-05+3.8$14.1718.6View →
2024 Q12023-06-30+9.2$13.5619.4View →