Earnings

Boston Beer Company’s full-year net revenue reached a record $2.058 billion, an 18.5% increase over 2020, the company reported today. However, the news coming out of the company’s Q4 earnings report wasn’t all rosy, with the effects of the hard seltzer slowdown dragging down the company’s results.

SweetWater Brewing parent company Tilray paid $5.1 million in cash and stock to acquire Green Flash Brewing and Alpine Beer Company last month, financial forms filed with the U.S. Securities and Exchange Commission showed. A purchase price of $5,133,000 for the San Diego-headquartered craft brands values their combined 2020 output of 34,000 barrels at $150.97… Read more »

After announcing a partnership with Coca-Cola to launch spirits-based canned cocktail Fresca Mixed earlier today, Constellation Brands reported increases in shipments (+3.1%) and depletions (+8.4%) for its beer business in the third quarter of the company’s 2022 fiscal year. Constellation’s beer portfolio – which includes Mexican import brands Corona, Modelo and Pacifico – increased sales in Q3 FY 2022 (for the three months ending November 30, 2021) on top of difficult comps from elevated off-premise spending driven by the pandemic era fridge stocking in 2020.

Anheuser-Busch InBev’s U.S. shipments and depletions both declined -4.7% in the third quarter of 2021, the company reported today. The declines were “driven by a lower industry, segment shift and supply chain disruptions resulting in out-of-stocks,” the world’s largest beer manufacturer wrote in a press release detailing its third quarter earnings.

Molson Coors Beverage Company CEO Gavin Hattersley opened today’s third quarter earnings call by reciting what he said are the seven “headlines” of the company’s last three months.

As headwinds hit the hard seltzer segment, Boston Beer Company executives reiterated their confidence in Truly Hard Seltzer’s ability to perform during a conference call to discuss the company’s third quarter earnings with investors and analysts on Thursday evening.

Boston Beer Company’s second quarter earnings call in July set the stage for a tumultuous third quarter that saw the company pull its financial guidance and anticipate write-off costs related to excess hard seltzer inventory, which was followed by a rush of investor lawsuits. Although the Q2 earnings report left analysts flummoxed and disappointed, the company’s third quarter earnings report came with less of a jolt but more of the residual sting of the slowdown in hard seltzer growth and lowered expectations.

Executives of the global cannabis firm Tilray were optimistic about the company’s growth regardless of federal legalization in the U.S., during Tilray’s first quarter 2022 earnings call Thursday.

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.