Constellation Remains “Bullish” on the Consumer

Dear Client:  Constellation brass did not express concern about volume trends recent “slowing” during a fireside chat with analyst Nadine Sarwat at Bernstein’s Strategic Decisions Conference yesterday, with CFO Garth Hankinson confirming “we expect to see net sales growth in that 7- to 9% range. “That's underpinned by volume growth in the mid- to high single-digit range and then getting 1- to 2% contribution from pricing,” Garth said, noting the growth is expected over the “medium term” from FY 24