You might say Constellation Brands (STZ) is a sparkling company, at least currently. The world's largest winemaker (as well as the manufacturer of Corona and more) is trading up 1.5%after it upped guidance and reported earnings that beat Street estimates. Can Constellation sustain growth or is it likely to fizzle?
Constellation Brands’ new Chief Executive Rob Sands joins the panel for this conversation. Following are excerpts from what was said.
There had been a glut of grapes from Australia. What’s the situation now?
“Unfortunately for the Australian people there’s been a drought. But, as a result, the glut has greatly diminished,” says Sands. “In fact we’re going to see that glut turn into shortages.”