Truly Hard Seltzer, Twisted Tea Drive Gains For Boston Beer

Boston Beer Co. saw depletions climb 36% in its first quarter ended in March, driven by its Truly Hard Seltzer and Twisted Tea brands. Net revenue surged 31% to $331 million during the period, although net income fell by 7.7% to $18.2 million owing to higher costs.

Truly Hard Seltzer continues to accelerate, the company says, boosted by the launch of Truly Hard Lemonade, and Twisted Tea is also rising by double-digits, offsetting declines for Samuel Adams and Angry Orchard. Boston Beer is also aiming to expand distribution for the Dogfish Head portfolio, which it acquired last year. The company noted that the on-premise shutdown has led to increased costs as it shifts production from kegs to more in-demand bottle and can packaging.—Daniel Marsteller

Tagged : Boston Beer Company, Truly

GET YOUR FIRST LOOK AT 2025 ESTIMATES AND 2030 PROJECTIONS FOR THE WINE AND SPIRITS INDUSTRIES. ORDER YOUR 2025 IMPACT DATABANK REPORTS. CLICK HERE.