Earnings

Boston Beer Company’s shipments and depletions declined -6.2% and -6%, respectively, in 2023, the company reported today in its full-year and fourth-quarter earnings report.

Constellation Brands has raised its full-year operating income guidance for its beer brands to +7% to +8% (previously +6% to +7%), following another quarter of shipments and depletions growth, the company reported today in its Q3 earnings results.

As a response to the instability in segments of the beer industry, Boston Beer Company has adjusted both its financial guidance and its approach to innovation, executives shared yesterday during the company’s third-quarter earnings conference call.

Constellation Brands continues to grow its beer business, increasing net beer sales +12% year-over-year (YoY) in Q2 of fiscal year 2024 (+$253 million), to more than $2.39 billion.

Brown-Forman net sales increased 3% to $1 billion in Q1 FY 2024, but took a hit in the U.S. due to slower whiskey sales, supply chain challenges, and rebuilding inventory.

The fallout of Bud Light’s sales declines has led to several gains for Molson Coors in the second quarter with potentially more on the horizon. During Tuesday’s call with investors and analysts, Molson Coors president and CEO Gavin Hattersley noted that several retailers have moved up the timing of their shelf resets from the spring to the fall.

Boston Beer Company reported its second quarter earnings today, with net revenue declining -2.1%, to $603.3 million, compared to the same period in 2022.

Constellation Brands posted solid shipments and depletions growth in its first quarter of fiscal year 2024. Beer shipments increased +7.5% year-over-year (YoY), to 107 million case equivalents, while depletions increased +5.5%.

Boosted by triple-digit growth from its nascent alcohol division, Monster Energy beat analysts’ predictions in reporting an 11.9% year-over-year rise in net sales in its Q1 2023 earnings report on Thursday afternoon.

Ball Corporation reported that global beverage can shipments declined -6.7% in the first quarter of 2023. For the full year, the can manufacturer is estimating that its global volume growth will be in the “low-single digits,” with volume in North America “slightly down.” Leaders discuss need for beer companies to launch promotions.

Anheuser-Busch InBev (A-B) reported a +13.2% increase in total revenue and a +0.9% increase in total volume worldwide for the first quarter of 2023.

Molson Coors recorded both top- and bottom-line growth – in addition to volume declines – in Q1 2023, the company announced today.

Twisted Tea continues to be one of the few Boston Beer Company offerings in the green, and the company doesn’t see that changing anytime soon, leadership shared during Thursday’s Q1 2023 earnings call with investors.

Canadian cannabis company Hexo Corp, a former partner of Molson Coors, has been acquired by Tilray Brands, in a deal valued at around $250 million, the company announced yesterday in its Q3 earnings report.