Today the gang speaks with veteran bev-alc/cannabis analyst Nadine Sarwat of Bernstein, where she argues that today&#x27;s bev-alc weakness is mostly cyclical rather than structural, walking through the industry&#x27;s wave of c-suite turnover, the collapsed Brown-Forman–Pernod Ricard tie-up, and why pricing architecture and perceived value—not tobacco-style price hikes or blanket cuts—are the real levers for producers meeting consumers &quot;where they&#x27;re at.&quot;<br>=================================Our 3 Daily Bev-Alc Trade Publications: https://beernet.com/Watch on Youtube: https://www.youtube.com/@BeerNetRadio/videosPodcast feeds - Audio: https://creators.spotify.com/pod/beernetradio=================================About Us:Beer Business Daily / Wine &amp; Spirits Daily publisher Harry Schuhmacher joins his editors and bev-alc industry guests once a week as they grok the beer and beverage business issues of the day. Like and subscribe; it&#x27;s free.-Our Three Daily Bev-Alc Trade Publications: https://beernet.com/-Twitter: @beerbizdaily#beernews #beerindustry #beer #beerbusiness

Ep. 345 Nadine Sarwat of Bernstein

Beernet Radio

to take the neon thing down. I was like, this is very 2020. But thank you for being on Nadine. I hope some of your dreams come true today. And we'll just let my colleague Jen Litzkirk introduce you and we'll just get right into it.

All right, let's do it. All right. I'd like to welcome to Beernet Radio Nadine Sarwat, Director, Equity Research Analyst of European and American Beverages and North America Cannabis at Bernstein, where she's been for at least 10 years. And I also saw that you have some sort of spirit certificate. Is that a tasting certificate or what exactly? Are you like a sommelier of spirits?

Definitely not. No. So the certificate is the WSCT, which is the Wine and Spirit Education Trust. And essentially there are a couple of levels that you can do. Level one teaches you about the different types of spirits. And then level two is more tasting notes, provenance, etc. So by no means, by any stretch of the imagination, sommelier. What do you like to drink, though? Like when you're drinking, what is your preferred?

So I think there's a beverage for every occasion. I think there's a moment for a light beer. There's a moment for a cocktail. I haven't quite got on the buzz balls, though. I don't know my buzz balls moment. You're missing out. I do like an Aperol. I like a neat bourbon. I like a Manhattan. Nice. Or a glass of white wine. One of those. Nice. Very cool. Yeah, I think you're among the many of us who wonder, well, who is drinking BuzzBallz?

Ep. 345 Nadine Sarwat of Bernstein

Read the full transcript

The candid version is on a podcast,
not the earnings call.

Ep. 345 Nadine Sarwat of Bernstein

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.