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Molson Coors Beverage Company’s overall business remained in the red as the company closed its 2024 fiscal year. However, the fourth quarter showed improvement over the double-digit declines reported in Q3, and leadership is confident the company can return to growth in 2025, according to Molson Coors’ earnings call today with investors and analysts.
Just like the Kansas City Chiefs, draft beer also took an L in Super Bowl LIX. Draft beer volume declined -4.6% nationwide on Super Bowl Sunday, according to on-premise insights firm BeerBoard.
Tilray Brands is moving large-scale production from Revolver Brewing’s facility in Granbury, Texas, to other facilities, the company confirmed in a statement to Brewbound. Revolver’s Texas location “will continue to operate, focusing on unique and innovative brews, and the taproom will remain open.”
Boston Beer Company’s plans in the non-alcoholic cannabis-infused beverage space are beginning to play out one year after establishing a Canadian subsidiary to focus on those offerings.
Anheuser-Busch InBev’s beyond beer division is organizing itself around four priorities: hard seltzers, Cutwater Spirits, Nütrl Vodka Seltzer and Ghost Energy, beyond beer business unit president Fabricio Zonzini shared during Beer Marketer’s Insights’ spring conference in Chicago last week.
Boston Beer Company executives are now expecting hard seltzer growth for 2022 to be near the lower end of its previously communicated projections of flat to +10%, but they reaffirmed confidence in the long-term staying power of the segment, founder Jim Koch shared this week during the Global Staples Forum, according to a recap compiled by Goldman Sachs managing director Bonnie Herzog.
The majority of distributors (70%) are seeing better growth for beer this spring, respondents told financial services firm Jefferies in a survey published today.
Sierra Nevada VP of sales Ellie Preslar and chief commercial officer Joe Whitney discussed the company’s growth via its Little Things family, media budget increases for Pale Ale, entering the non-alc segment with Hop Splash sparkling water and other innovations. After hinting at the possibility of taking non-alcoholic craft beer maker Athletic Brewing public during Brewbound Live last year, co-founder and CEO Bill Shufelt said an initial public offering (IPO) could materialize in the next 12-18 months.
On-premise volume declined for the third consecutive period, decreasing -1.9% over the weekend of May 5-8 compared to the weekend before, according to the market research firm BeerBoard.
Molson Coors has named beer industry veteran Jeff Agase as the new head of its craft division, Tenth & Blake.
Ryan Burk, head cider maker for Boston Beer and Angry Orchard Hard Cider, has left the company, effective April 30.
Ball Corporation, the world’s largest manufacturer of aluminum beverage cans, reported $1.6 billion in sales in its North and Central America beverage packaging business unit for the first quarter of 2022, a +23% increase over the same period last year.
Heineken USA CEO Maggie Timoney opened the company’s sales meeting stressing that its underlying business “is really, really strong” despite supply chain headaches and out of stocks.
Long-time Anheuser-Busch InBev marketing executive Andy Goeler will retire at the end of the year after a 43-year career with the world’s largest beer maker. Plus, leadership changes at Pabst, FIFCO USA, Orpheus and the Texas Craft Brewers Guild.
Anheuser-Busch InBev increased total revenue (+11.1%), volume (+2.8%) and revenue per hectoliter (+7.8%) in the first quarter of 2022, the company reported today.
Heineken USA is getting into the spirit-based, ready-to-drink canned cocktail market with Dos Equis Margarita, a line extension of the imported Mexican beer brand that will hit retailers in 10 states by the end of June.
Cycling a soft first quarter of 2021, Molson Coors Beverage Company reported a +16.7% increase in net sales, to more than $2.2 billion, in Q1 2022, the company reported today.
