Craft Brewing and Distilling News for April 27, 2018April 27, 2018
•The Boston Beer Company saw net revenue grow 17.8% to $190.5 million in the first quarter, with shipments rising 15% over the same period last year. The strong first quarter, with depletions rising 8%, was attributed by new CEO Dave Burwick to solid showings from the Twisted Tea, Truly Spiked & Sparkling, and Angry Orchard labels. Burwick added that Sam ’76 and other new Samuel Adams releases also performed well. For 2018 as a whole, Boston Beer projects sales growth of 0%-6% and will increase prices by as much as 2%. The first quarter marked a return to growth for the company, which posted a net revenue decline of 4.8%, to roughly $863 million, for its full fiscal 2017.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.