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Constellation Brands, Inc. (STZ) Presents at Bernstein 39th Annual Strategic Decisions Conference (Transcript)

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Constellation Brands, Inc. (NYSE:STZ) Bernstein 39th Annual Strategic Decisions Conference May 31, 2023 2:30 PM ET

Company Participants

Bill Newlands - CEO

Conference Call Participants

Nadine Sarwat - Sanford C. Bernstein & Co.

Nadine Sarwat

Hello, everybody. Good afternoon. Thank you for joining us. So, we are delighted to have Constellation Brands here today, and I have Bill Newlands, President and CEO of Constellation here with us. We have a lot to discuss, and I'm sure a lot of few questions. So as a reminder, please use the Pigeonhole link, if you'd like to submit yours.

Question-and-Answer Session

Q - Nadine Sarwat

So, with that, let's get to start on all the questions I'd like to ask. But first, could you talk us through, for those in the room less familiar with Constellation Brands? What are the strategic priorities for you at the moment?

Bill Newlands

And Nadine, I'd say we have three things that are sort of critically important for people to know about our business. First of all, we got a great portfolio. Our beer business in the most recent 12 weeks was up over 11%. Our wine -- high-end wine business was up over 3.5%. And in the last 10 years, we have had several times, four out of the last six, including last year, where we were the number one CPG growth company. So -- and that all really revolves around and comes out of our strategic priorities. We've said we want to be great at building brands.

We've said we want to do innovation. It's based on consumer insights. We said that we want to be good stewards of capital and we good work while we do good business. So, let me touch on each of those just a little. Our beer business has been phenomenal led by Modelo. Modelo is

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