Constellation Brands(US:STZ)2025-04-10 15:30Financial Performance & Outlook - FY25 reported net sales were $10209 million, a 2% increase compared to FY24, with organic net sales also at $10209 million, up 3%[18, 22] - FY25 reported operating income was $04 billion, a decrease of 89% compared to FY24, while comparable operating income was $35 billion, an increase of 7%[25] - The company expects ~$9 billion in operating cash flow from FY26 to FY28, with free cash flow between $6 billion and $7 billion[15] - Enterprise-wide restructuring actions are expected to deliver over $200 million in net annualized cost savings by FY28[15] - The company anticipates a low single-digit CAGR for consolidated net sales and low to mid single-digit CAGR for consolidated operating income from FY26 to FY28[30] Beer Business - The Beer Business experienced a 5% increase in net sales in FY25[18] - The Beer Business operating margin increased by 180 basis points to 397% in FY25[21] - The company expects the Beer Business to deliver 2% to 4% net sales growth and 39% to 40% operating margins in FY27 and FY28[15] - The company plans to add ~7 million HL of capacity primarily at Veracruz between FY26-FY28[66] Wine & Spirits Business - Wine and Spirits net sales decreased by 7% in FY25[18] - Following the 2025 Wine Divestitures Transaction, expected to generate ~$900 million in proceeds in FY26, Wine and Spirits is expected to deliver up to 3% net sales growth and 22% to 24% operating margins in FY27 and FY28[15] - The 2025 Wine Divestiture Transaction includes wine brands mostly positioned in the declining mainstream segment and associated U S vineyards and facilities[58]