After posting strong double-digit growth in shipments, depletions and revenues on the back of Truly Hard Seltzer and Twisted Tea in the third quarter, Boston Beer Company stock (SAM) topped the $1,000 mark for the first time ever, up from $371.12 at the start of 2020. As of press time (2 p.m. ET October 23), shares were trading at more than $1,066 (+15% and more than $145 than the previous day).
The Boston Beer Company is still riding a big wave thanks to Truly Hard Seltzer and Twisted Tea. The company — which produces Truly, Twisted Tea, Samuel Adams, Dogfish Head and Angry Orchard cider — posted increases in shipments (+30.5%), depletions (+36%) and net revenue (+30.2%) during the third quarter of 2020.
In a summer plagued with out-of-stock issues, Constellation Brands’ beer depletions still increased 4.7% in the second quarter of the company’s fiscal year, the company shared today.
The effects of the COVID-19 pandemic were easy to see in Craft Brew Alliance’s latest earnings report. Shipments of CBA products during the three-month period ending June 30 — in the thick of the pandemic and its shut down of on-premise establishments — declined 10.2%, to 206,900 barrels, down from 230,500 barrels in Q2 2019.
As the effects of the COVID-19 pandemic on the on-premise channel continue to be felt worldwide, Molson Coors Beverage Company reported $2.5 billion in net revenue for the second quarter of 2020, a 15.1% decline compared to the same period last year.
The COVID-19 pandemic cut into Anheuser-Busch InBev’s worldwide volumes and revenue during the second quarter of 2020. The world’s largest beer maker reported that its total volume in Q2 declined 17.1% — as beer volume declined 17.2% and non-beer volume declined 15.5% — while revenue declined 17.7%.
Boston Beer Company reported second-quarter depletions (sales-to-retailers) growth of 46% and shipments (sales-to-wholesalers) growth of 39.8% during the second quarter of 2020, according to financial results shared after the end of trading today.
Constellation Brands, which begins its financial year in March, had a rollercoaster of a first quarter for FY 2021, with net sales declining 6%, to $1.9 billion, but beer depletions (sales to retailers) increasing 5.6%.
In light of the COVID-19 pandemic, Anheuser-Busch InBev is examining discretionary spending, halting new product launches and promotions and upping its investment in e-commerce, CEO Carlos Brito said during A-B’s first quarter earnings call today.
Craft Brew Alliance posted $45.8 million in sales during the first quarter of 2020, down nearly $4 million from the same time last year, according to the Form 10-Q the company submitted to the U.S. Securities and Exchange Commision and posted to its website Wednesday.
After a corporate restructuring in the fourth quarter of 2019 and a bevy of new products hitting the market in the New Year, Molson Coors Beverage Company was poised for a strong 2020. But then the COVID-19 outbreak shutdown on-premise bars and restaurants in mid-March, and everything changed. In the first quarter of 2020, Molson Coors’ net sales revenue declined 8.7%.
The story of Boston Beer Company’s Truly Hard Seltzer brand remains the same; the company can’t keep up with demand for the hard seltzer category’s second largest brand. The mid-March pantry stock up caused by the novel coronavirus shutting down virtually all on-premise sales led to a spike in Truly sales earlier than expected.
Boston Beer Company posted double-digit depletions, shipments and net revenue growth in the first quarter of 2020, continuing momentum that propelled the company to $995.7 million in revenue in 2019.
Constellation Brands will continue production of import brands Corona, Modelo and Pacifico at its facilities in Mexico, despite the suspension of nonessential businesses in that country.