Earnings

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.”

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.

Forget product, price, promotion, and all that. For Molson Coors Beverage Company, 2020 has been defined by three words that start with the letter P: persistence, perseverance and progress, CEO Gavin Hattersley said during the company’s third quarter earnings call today.

Anheuser-Busch InBev CEO Carlos Brito offered investors and analysts a peek at how the company is approaching future innovations during the company’s third quarter earnings call today.

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.