Earnings

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.

Anheuser-Busch InBev Revenue Declines to $46.8 Billion in 2020

Anheuser-Busch InBev Revenue Declines to $46.8 Billion in 2020

Anheuser-Busch InBev’s 2020 global revenues declined 3.7%, to $46.8 billion, driven by the continued impact of the COVID-19 pandemic in what was “undoubtedly a difficult year for our colleagues and our business,” CEO Carlos Brito said during a call with investors and analysts Thursday to discuss the company’s Q4 and full-year 2020 earnings. “While we… Read more »

Boston Beer Execs: Hard Seltzer Could be 15% of Beer Sales in 2021

Boston Beer Execs: Hard Seltzer Could be 15% of Beer Sales in 2021

Truly Hard Seltzer boosted Boston Beer Company’s 2020 revenue to $1.74 billion, but production of the popular bubbly beverage remains a drag on the company’s gross margins, the company reported during its full-year and fourth quarter earnings report Wednesday.

Boston Beer Revenue Reaches $1.74 Billion in 2020

Boston Beer Revenue Reaches $1.74 Billion in 2020

Boston Beer Company’s sales increased 38.9% in 2020, generating $1.74 billion in revenue, according to the company’s earnings report released Wednesday afternoon.

Heineken to Shed 8,000 Jobs; Records $279 Million Lagunitas Impairment Charge

Heineken to Shed 8,000 Jobs; Records $279 Million Lagunitas Impairment Charge

In reporting full-year 2020 earnings today, Heineken NV announced plans to cut its global workforce by 8,000 full-time employees as part of a reorganization plan first announced in October. Heineken, the world’s second largest beer manufacturer, also recorded several impairment charges totaling more than $1.1 billion (€963 million) to “tangible and intangible assets in operating profit.”

Constellation Brands’ Depletions Increase 12% in Q3; Funky Buddha Hard Seltzer to Expand to 10 Markets

Constellation Brands’ Depletions Increase 12% in Q3; Funky Buddha Hard Seltzer to Expand to 10 Markets

The biggest challenge the producer of popular Mexican import brands Corona, Modelo and Pacifico faced in 2020 came in March when the Mexican government ordered the shutdown of all manufacturing industries, including beer. This pause in production led to depleted inventory that was still being replenished into the third quarter and created a gap between shipments (sales to wholesalers) and depletions (sales to retailers) growth.

Boston Beer Stock Price Skyrockets Over $1K Post Q3 Earnings Report

Boston Beer Stock Price Skyrockets Over $1K Post Q3 Earnings Report

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).

Craft Brew Alliance Shipments Decline 10.2%, Depletions Down 9% in Second Quarter

Craft Brew Alliance Shipments Decline 10.2%, Depletions Down 9% in Second Quarter

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.