Constellation Brands, Inc. (STZ) 2022 Morgan Stanley Global Consumer and Retail Conference Call Transcript

Dec. 06, 2022 12:35 PM ETConstellation Brands, Inc. (STZ)
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Constellation Brands, Inc. (NYSE:STZ) 2022 Morgan Stanley Global Consumer and Retail Conference December 6, 2022 10:15 AM ET

Company Participants

Garth Hankinson - Chief Financial Officer

Conference Call Participants

Dara Mohsenian - Morgan Stanley

Dara Mohsenian

All right. Good morning, everyone. I’m Dara Mohsenian, Morgan Stanley’s Household Products and Beverage analyst. Before we begin, just a quick disclosure. Please see the Morgan Stanley research website at www.morganstanley.com for important research disclosures and you can contact your Morgan Stanley representative if you have any questions.

So with that, I’m very pleased to welcome Constellation Brands and Garth Hankinson, Constellation CFO, to this fireside chat today. Constellation’s got a great track record of growth over the last decade driven by the beer business. And we’re going to start today with some comments from Garth, and then we’ll go into Q&A from there.

I’m going to turn things over to you. Thanks for being here.

Garth Hankinson

Thank you. Thanks, Dara. Obviously, we’re excited to be here today. Before we get started, we have some disclaimers here. I invite everyone to review our forward-looking statements and non-GAAP financial measures disclaimers, which can be found on pages two through four of the deck that we posted to our website yesterday. Reconciliations between the most directly comparable GAAP measure and any non-GAAP financial measures discussed today are included in the slides or otherwise available on the company’s website at ir.cbrands.com.

And as a quick reminder, we just ended our fiscal third quarter, and we are in our quiet period. So today, I will not be sharing any results of operations or financial conditions for a Q3 fiscal year 2023.

Now, as many of you are aware, we recently reached an important milestone for Constellation Brands. Last month, we transitioned to a single class of common stock and aligned the

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