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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.”
Citing negative volume trends in the U.S. and Canada, Molson Coors reported a 2.1 percent decline in net sales in 2018, according to yesterday’s full-year earnings report. In 2018, Molson Coors posted nearly $10.8 billion in net sales, down from more than $11 billion in 2017.
Sunday’s Super Bowl matchup between the New England Patriots and Los Angeles Rams will mark Anheuser-Busch InBev’s biggest ever bet made on the big game.
Constellation Brands reported its third-quarter fiscal 2019 earnings today, which were highlighted by nearly 8 percent growth in beer depletions (sales-to-retailers) and a 14 percent increase in shipments (sales-to-wholesalers) for the comparable three-month period ending November 30.
In this week’s edition of Last Call: Cargill unloads its malt business; domestic beer shipments decline 6 percent in November; Canopy Growth eyes the U.S. market following the Farm Bill signing; the Arcadia auction is postponed; and more industry news.
Anheuser-Busch InBev today announced a partnership with Canadian cannabis company Tilray that is aimed at researching non-alcoholic beverages infused with THC (tetrahydrocannabinol) and CBD (cannabidiol). In a joint press release, the two companies said they would each invest up to $50 million to better understand the market for beverages infused with cannabis.
Anheuser-Busch InBev has eliminated nearly 40 jobs across North America, Brewbound has learned. In a statement issued last Friday, A-B said it was making “a limited number of targeted changes” to its North American “supply organization.”
In this week’s edition of Press Clips: Reyes buys the Constellation Brands portfolio from Ace; beer shipments are down 2.1 percent in 2018; the U.S. brewery count eclipses 7,000; Utah mandates tests to ensure 3.2 ABW; and more.
In an effort to attract a growing number of drinkers who are moderating alcohol consumption, several beer companies are looking toward non-alcoholic brews as a way to boost sales and court the 30 percent of U.S. adults who don’t imbibe. Among major producers, both Heineken and Pabst have recently announced plans to roll out non-alc offerings nationwide in the first quarter of 2019. There’s also an emerging group of startups focused exclusively on crafting alcohol-free libations.
The continued acceleration of Kona beer sales during the third quarter couldn’t offset company-wide shipment and depletion declines of other Craft Brew Alliance (CBA) offerings, the Portland, Oregon-headquartered company reported today. In Q3, Kona depletions increased 9 percent as the brand grew in both off- and on-premise channels. The depletion growth followed increases of 7 percent and 3 percent in the second and first quarters of the year, respectively.
Boston Beer Company’s growth continued in the third quarter, as the company’s revenue increased 24.2 percent, while shipments (+23.5 percent) and depletions (+18 percent) also grew. During a call with investors and analysts Thursday evening, Boston Beer founder Jim Koch credited the company’s “key innovations” — Angry Orchard Rosé, Truly Berry variety pack, Truly Wild Berry, Samuel Adams Sam ’76 and Samuel Adams New England IPA — with driving the growth.
Boston Beer Company today reported its 2018 third-quarter earnings results, which were highlighted by a 24.2 percent increase in net revenue, to $306.9 million. The company — which makes the Samuel Adams, Angry Orchard, Twisted Tea, and Truly Spiked & Sparkling products — credited the revenue growth to a 23.5 percent increase in shipments during the quarter, which ended September 29.
Despite ongoing shipment and depletion declines in the United States, Anheuser-Busch InBev’s global revenues were up 4.6 percent through the first nine months of 2018. A-B, the world’s largest beer manufacturer, posted global revenue growth of 4.5 percent, to more than $13.2 billion, during the third quarter, as revenue per hectoliter increased 4.2 percent. The company’s gross profit increased 3.5 percent, nearly $8.3 billion.
Rob Sands will step down as CEO of Constellation Brands on March 1, 2019, the New York-based alcohol beverage company announced today. Assuming the role from Sands will be Bill Newlands, who joined Constellation as chief growth officer in 2015 and took over as president from Sands in February.
William “Bill” Coors, the former chairman of the Adolph Coors Company, died Saturday at the age of 102. Coors, the grandson of Adolph Coors and heir to the family brewing business, died at his home, according to a statement released by Molson Coors. “Our company stands on the shoulders of giants like Bill Coors,” Molson Coors president and CEO Mark Hunter said in statement.
