Bill Newlands Takes The Stage on STZ Earnings Call

Dear Client: In his first Constellation earnings calls, new CEO Bill Newlands outlined five key points for the company's FY Q3, from beer, to Mexicali, to cannabis, to planned share repurchases. (Of course there's wine and spirits too, and you can read about that in WSD.) The stock had a tough year-end, down about 30% due to leverage concerns, Canopy volatility and more. But the company announced a plan to return $4.5 billion in cash returns to shareholders over the