Boston Beer Company

Boston Beer Facing Investor Lawsuit Related to Truly Hard Seltzer Slowdown

Boston Beer Facing Investor Lawsuit Related to Truly Hard Seltzer Slowdown

Boston Beer Company’s hard seltzer woes are spilling over into the legal system. The maker of Truly Hard Seltzer, the second best-selling hard seltzer on the market, is now facing a proposed class action lawsuit for allegedly failing to disclose the deceleration in sales of Truly to investors.

Boston Beer to Launch Finnish Long Drink-Inspired RTD — Minus the Gin — Nationwide in November

Boston Beer to Launch Finnish Long Drink-Inspired RTD — Minus the Gin — Nationwide in November

Boston Beer Company’s innovation pipeline continues to pump out new brands as the fall approaches, announcing today a planned nationwide launch in November of Bevy Long Drink, a sparkling refresher inspired by a traditional Finnish cocktail that consists of gin, grapefruit soda, and tonic. However, Boston’s version of the beverage, checking in at 5.8% ABV, won’t contain spirits.

Hard Seltzer’s Summertime Softening Disappoints Analysts; Cowen Downgrades Boston Beer to ‘Underperform’

Hard Seltzer’s Summertime Softening Disappoints Analysts; Cowen Downgrades Boston Beer to ‘Underperform’

Hard seltzer’s late summer slowdown has pushed several financial services firms to adjust their forecast for the sparkling segment’s performance. “We are incrementally more cautious on the beer and hard seltzer category based on feedback from our beer distributor contacts in our new proprietary ‘Beverage Bytes’ survey,” Goldman Sachs equity research analyst Bonnie Herzog wrote in a report published today.

Boston Beer Q2 Performance Flummoxes Analysts

Boston Beer Q2 Performance Flummoxes Analysts

Boston Beer Company adjusted its full-year forecast for shipments and depletions growth after a significant slowdown in the hard seltzer segment in the second quarter. The company previously projected full-year growth of 40-50% in shipments (sales to wholesalers) and depletions (sales to retailers), but has trimmed that projection to 25-40%. Its depletions increased 24% during Q2, decelerating by half from Q1’s growth of 48%, according to remarks from founder and chairman Jim Koch in the quarterly earnings release. “To be totally honest, we’re surprised at the sharpness and the suddenness of the change in trajectory,” Koch said during a conference call with investors and analysts.

Hard Seltzer Leaders: Segment Could Make Up 30% of Beer Category by 2025; Retail Shakeout Expected to Begin This Fall

Hard Seltzer Leaders: Segment Could Make Up 30% of Beer Category by 2025; Retail Shakeout Expected to Begin This Fall

Just how big a part of the beer category could hard seltzer be by 2025? It depends on who you ask. During this month’s Beverage Forum, Anthony Von Mandl and Jim Koch, the leaders of the companies that produce the two largest hard seltzer brands, White Claw and Truly, respectively, offered differing projections, according to analysts’ reports.

Boston Beer Depletions +48%, Shipments +60% in Q1 2021; Net Revenue Tops $545 Million

Boston Beer Depletions +48%, Shipments +60% in Q1 2021; Net Revenue Tops $545 Million

Boston Beer Company’s torrid run driven by Truly Hard Seltzer and Twisted Tea continued into the first quarter of 2021. Through the first 13 weeks of 2021, Boston Beer — whose brands include Samuel Adams, Truly Hard Seltzer, Dogfish Head Craft Brewery, Twisted Tea and Angry Orchard — reported a 48% increase in depletions and a 60.1% increase in shipments.

Jim Koch Urges Beer Trade Groups to Fight Spirits’ Equalization Efforts

Jim Koch Urges Beer Trade Groups to Fight Spirits’ Equalization Efforts

Boston Beer Company founder Jim Koch is urging the leaders of the beer industry’s three major trade groups — the Brewers Association (BA), the Beer Institute (BI) and the National Beer Wholesalers Association (NBWA) — to work together to beat back efforts by spirits groups to bring taxes on spirits-based, lower-alcohol, ready-to-drink offerings in line with beer, hard seltzers and FMBs.