Earnings

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.

Boston Beer Company’s torrid run driven by Truly Hard Seltzer and Twisted Tea continued into the first quarter of 2021. Through the first 13 weeks of 2021, Boston Beer — whose brands include Samuel Adams, Truly Hard Seltzer, Dogfish Head Craft Brewery, Twisted Tea and Angry Orchard — reported a 48% increase in depletions and a 60.1% increase in shipments.

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’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 »

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