Craft Brew Alliance hopes its marketing efforts in the first part of the year built a “strong foundation” for continued growth throughout the rest of 2019, CEO Andy Thomas said during Thursday’s first quarter earnings call with investors and analysts.
The NCAA men’s basketball tournament officially tips off on Thursday, and several major beer manufacturers are already jockeying for fans’ attention. MillerCoors, Anheuser-Busch InBev, Craft Brew Alliance (CBA) and D.G. Yuengling are among the beer companies hoping consumers will want to catch a buzz with their products while watching for buzzer beaters this month.
Hoping to build off the continued growth of its flagship Kona Brewing portfolio, Craft Brew Alliance said it plans to increase sales of the Hawaiian-themed brand by double digits in 2019. During Thursday’s earnings call with investors and analysts, CEO Andy Thomas laid out the company’s plans to hit that goal, while also reflecting on a “good” 2018.
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.
Following the release of Craft Brew Alliance’s second-quarter results on Wednesday, CEO Andy Thomas hailed his company’s financial performance as the “strongest validation” yet that CBA is a “company transformed.” During a call with analysts and investors today, Thomas said CBA is now in its “strongest operational and strategic position” company history, which he attributed to the growth of the Kona brand, a reshaped CBA portfolio that now includes three smaller craft partners, a rationalized brewery footprint, improved gross margin, and a “far more profitable business model.”
Craft Brew Alliance (CBA) today reported its second-quarter earnings, which were highlighted by a 2 percent revenue increase, to $61.8 million. CBA attributed the uptick in net sales to increased shipments of the Kona brand, and increases in average unit pricing, despite continued Widmer Brothers and Redhook declines.