**Brewing Success: Constellation Brands CEO Confident Amid Tariff Concerns**
In a recent interview with CNBC’s Jim Cramer, Constellation Brands CEO Bill Newlands expressed optimism about the company’s prospects, despite concerns over potential tariffs. Newlands pointed out that during the previous Trump administration, the company experienced double-digit growth, and he believes that any future tariffs would not significantly impact their business.
Constellation Brands, known for its popular beer brands such as Modelo, Corona, and Pacifico, imports many of its inputs from the United States and manufactures them in Mexico. Newlands emphasized that the company’s Mexican beers are authentic and must be made in Mexico, making it unlikely that tariffs would target American farmers.
The CEO also discussed his recent meeting with Mexico’s new President, Claudia Sheinbaum, who is focused on “shared prosperity.” Newlands highlighted the company’s strong relationship with the Mexican government and announced plans to open a new brewery in Veracruz.
Despite reporting a mixed quarter, with an earnings beat but a slight revenue miss, Newlands remains confident in the company’s performance. He attributed the success of their beer brands to strategic marketing efforts and is seeing improvements in their wine and spirits segment.
With a focus on long-term growth, Constellation Brands is poised to continue its upward trajectory, undeterred by potential tariff concerns.
Leave a Reply