Constellation Brands Tells Investors It Can Win in the Hard Seltzer Category
Investors had a positive early reaction to Constellation Brands' (NYSE: STZ) third-quarter earnings report earlier this week. Yes, the alcoholic beverage giant reduced its outlook for growth in the core beer segment. But that slight downgrade was offset by improving profitability across its portfolio of beer, wine, and spirits brands.
In a conference call with Wall Street analysts, CEO Bill Newlands and his team discussed the trends affecting results over the last few months and looked out to a fiscal 2020 that will be influenced by major new beverage launches such as Corona Hard Seltzer.
Let's look at some highlights from that presentation.
Source Fool.com
