Earnings

Montucky Cold Snacks Raises $5.7M in Series A Funding Round

Montucky Cold Snacks Raises $5.7M in Series A Funding Round

Montucky Cold Snacks closed a Series A investment round totaling $5.7 million, the Bozeman, Montana-headquartered light lager brewer announced Thursday. “Since 2012, Montucky Cold Snacks has attracted a large and growing customer base of people who want a great tasting lager that supports causes they believe in,” CEO and co-founder Chad Zeitner said in a… Read more »

New Anheuser-Busch InBev CEO Lays Out Vision for Beer Maker After Taking Reins

New Anheuser-Busch InBev CEO Lays Out Vision for Beer Maker After Taking Reins

Newly appointed Anheuser-Busch InBev CEO Michel Doukeris hosted his first earnings conference call today since taking the reins earlier this month from predecessor Carlos Brito. “Throughout my 25 years at the company, I’ve had the privilege to lead our business across different regions of the world, working alongside the industry’s most talented and passionate colleagues every step of the way,” Doukeris said. “Stepping into this role, I look forward to working together with the team to collectively drive our business into this next chapter.”

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.

Anheuser-Busch InBev: US Shipments +2.9% in Q1; Global Volume +13.3%

Anheuser-Busch InBev: US Shipments +2.9% in Q1; Global Volume +13.3%

Anheuser-Busch InBev’s first quarter earnings call today was overshadowed by an earlier announcement that CEO Carlos Brito will step down this summer after 16 years of leading the world’s largest beer manufacturer. “When I joined Brahma in 1989, I never imagined the journey our company and I would embark on over the next three decades,”… Read more »

Molson Coors’ Net Sales Decline 9.7% in Q1; US Shipments Decline 9.5%

Molson Coors’ Net Sales Decline 9.7% in Q1; US Shipments Decline 9.5%

Molson Coors Beverage Company CEO Gavin Hattersley admitted that the first quarter of 2021 “was not the quarter we expected to have,” during a conference call for investors and analysts Thursday. The combined effects of a cyber security attack taking down many of its internal systems, a winter storm suspending operations at its Texas brewery and prolonged on-premise shutdowns in Europe added up to a 9.7% decline in Q1 net sales, to $1.89 billion.

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.

Constellation Brands’ Beer Sales Top $6 Billion in Fiscal Year 2021

Constellation Brands’ Beer Sales Top $6 Billion in Fiscal Year 2021

Net sales of Constellation Brands’ beer portfolio — including Mexican import labels Corona, Modelo and Pacifico — topped $6 billion, an 8% increase, in fiscal year 2021, the company shared today while reporting its full-year earnings.