Earnings

Constellation Brands executives addressed hard seltzer’s slowing sales during the company’s second quarter 2022 earnings call today, and assured investors and analysts that the success of its core beer brands would still drive growth. Here are some of the highlights of the discussion: Company Not Reliant on Hard Seltzer Constellation president and CEO Bill Newlands… Read more »

Constellation Brands’ beer business increased both shipments (+11.7%) and depletions (+7.3%) during the second quarter of its 2022 fiscal year, the company reported Wednesday.

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 »

Global cannabis firm Tilray generated $513 million in net revenue — a 27% increase year-over-year — during the company’s 2021 fiscal year, which ended May 31, the company reported last week.

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.”

Molson Coors Beverage Company CEO Gavin Hattersley stressed that the “outcomes” of the company’s 2-year-old revitalization plan are beginning to materialize. Those outcomes became frequent talking points during the company’s second quarter 2021 earnings report.

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.

Boston Beer Company “overestimated the growth of the hard seltzer category in the second quarter” and the demand for the company’s Truly Hard Seltzer, CEO Dave Burwick said in a press release announcing the company’s Q2 earnings results.

Constellation Brands executives tackled a number of issues, from supply “tightness” to Modelo Especial’s growth, and their hard seltzer ambitions during a first quarter 2022 call with investors and analysts today.

Sloop Brewing Co. moved up nearly 50 spots in the Brewers Association’s (BA) 2020 regional brewery rankings, rising from the 120th to the 72nd largest regional craft brewery by volume in the country.

The U.S. beer industry’s economic output has increased by $4 billion since 2018, which is equivalent to 1.6% of the U.S. gross domestic product, according to the “Beer Serves America” report — a biennial study commissioned by the Beer Institute (BI) and the National Beer Wholesalers Association (NBWA).

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 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.

After initial projections that the hard seltzer segment would grow at a rate of 70-100%, Boston Beer CEO Dave Burwick said the expectation is now in the 60-90% range, with Truly outpacing the segment.