Constellation Brands Inc (NYSE:STZ)
$ 252.86 -0.79 (-0.31%) Market Cap: 46.08 Bil Enterprise Value: 58.03 Bil PE Ratio: 18.84 PB Ratio: 4.50 GF Score: 81/100
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Q1 2025 Constellation Brands Inc Earnings Call Transcript

Jul 03, 2024 / 02:30PM GMT
Release Date Price: $250.37 (-3.31%)

Key Points

Positve
  • Constellation Brands Inc (STZ) achieved an enterprise dollar sales increase 4.5 percentage points above the entire CPG sector.
  • The beer business delivered a high-single digit net sales increase and significant operating margin improvement.
  • The company returned $185 million to shareholders in dividends and executed $200 million in share repurchases.
  • Modelo Especial grew depletions by nearly 11% and upheld its position as the top share gainer.
  • Constellation Brands Inc (STZ) drove comparable earnings per share growth of more than 17%.
Negative
  • The wine and spirits business faced near-term challenges, largely driven by broader category headwinds.
  • Wine and spirits net sales declined by 7% in Q1.
  • Operating income for the wine and spirits business declined by 25% in the first quarter.
  • The on-premise beer sales were slightly weaker than expected, partly due to weather conditions.
  • The company anticipates a full-year 9% to 11% decline in operating income for the wine and spirits segment.
Operator

Good morning and welcome to the Constellation Brands' first-quarter fiscal year 2005 earnings call. (Operator instructions) As a reminder, this conference is being recorded.

I would now like to turn the call over to Joseph Suarez, SVP of Investor Relations.

Thank you. You may begin.

Joseph Suarez
Constellation Brands Inc - Vice President - Investor Relations

Thank you, Darryl. Good morning all and welcome to Constellation Brands' Q1 fiscal '25 conference call.

I'm here this morning with Bill Newlands, our CEO, and Garth Hankinson, our CFO.

As a reminder, reconciliations between the most directly comparable GAAP measure and any non-GAAP financial measures discussed on this call are included in our news release or otherwise available on the company's website at www.cbrands.com.

Please refer to the news release and Constellation's SEC filings for risk factors, which may impact forward-looking statements made on this call. Following the call, we'll also

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