Constellation Brands(US:STZ)2024-07-03 18:19Q1 FY25 Financial Performance - Enterprise net sales increased by 6% to $2.662 billion compared to Q1 FY24[155] - Beer Business net sales increased by 8% to $2.2728 billion in Q1 FY25[155] - Wine and Spirits Business net sales decreased by 7% to $389 million in Q1 FY25[155] - Enterprise reported EPS was $4.78, and comparable EPS was $3.57 in Q1 FY25[155] - The company's capital expenditure was $375 million, primarily focused on Beer brewing capacity additions[169] FY25 Outlook - Enterprise net sales are expected to grow by +6% to +7%[158] - Beer Business net sales are expected to grow by +7% to +9%, and Wine and Spirits Business net sales are expected to range from a decline of (0.5)% to growth of +0.5%[158] - Enterprise reported EPS outlook is updated to $14.63 - $14.93, and comparable EPS outlook is affirmed at $13.50 - $13.80[169] - The company targets operating cash flow of $2.8 billion to $3.0 billion and free cash flow of $1.4 billion to $1.5 billion[169] Capital Allocation - The company reduced its net leverage ratio to approximately 3.1X[3, 169] - Over $240 million of share repurchases were executed through June 2024[3, 169]