CA - Constellation Brands Inc. (STZ) Q1 2025 Earnings Call Transcript

2024-07-03 14:19:02 ET

Constellation Brands, Inc. (STZ)

Q1 2025 Earnings Conference Call

July 03, 2024 10:30 AM ET

Company Participants

Joseph Suarez - SVP, IR

Bill Newlands - President & CEO

Garth Hankinson - CFO

Conference Call Participants

Andrea Teixeira - JP Morgan

Carlos Laboy - HSBC

Dara Mohsenian - Morgan Stanley

Filippo Falorni - Citi

Lauren Lieberman - Barclays

Nik Modi - RBC Capital Markets

Bryan Spillane - Bank of America

Peter Grom - UBS

Chris Carey - Wells Fargo Securities

Bonnie Herzog - Goldman Sachs

Rob Ottenstein - Evercore ISI

Robert Moskow - TD Cowen

Presentation

Operator

Good morning, and welcome to the Constellation Brands First Quarter Fiscal Year 2025 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [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

Thank you, Daryl. 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 will also be making available in the Investors section of our company's website a series of slides with key highlights of the prepared remarks shared by Bill and Garth in today's call.

Before turning the call over to Bill, in line with prior quarters, and as Daryl mentioned, I would like to ask that we limit everyone to one question per person which will help us to end our call on time.

Thanks in advance and now here's Bill.

Bill Newlands

Thanks, Joe, and welcome all to our Q1 fiscal '25 earnings call. I'm pleased to say that we got off to a solid start in Q1. And as usual, I'd like to start with a few key highlights for the quarter. First, we continued to extend our position as a growth leader within consumer packaged goods, achieving an enterprise dollar sales increase 4.5 percentage points above that of the entire CPG sector....

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