Craft Brewing and Distilling News for February 22, 2019February 22, 2019
•Boston Beer posted net revenues up 15% to $996 million for its 2018 fiscal year ended in December. Depletions rose 13%, while shipments grew 13.7% to 4.3 million barrels, driven by the Truly Hard Seltzer, Twisted Tea, and Angry Orchard brands, partially offset by decreases in Samuel Adams. Operating income was flat at $116 million, as higher costs in production, advertising, and other areas cut into margins. This year, Boston Beer president and CEO Dave Burwick says the company will focus on continuing to grow successful recent innovations like Angry Orchard Rosé, Truly Wild Berry, Sam ’76, and Samuel Adams New England IPA.
•San Diego-based Ballast Point Brewing has released two new beers, available for a limited time. The first, developed at Ballast Point’s Chicago brewery, is Passing Haze (4.2% abv), a hazy IPA brewed with Centennial, Mosaic, and Citra hops that is available through May as part of the brewery’s Discovery series. In contrast, the second is Bone-Dry Brut IPA (7% abv), a clean and crisp beer that mimics the profile of Brut Champagne, also in limited release. Ballast Point is owned by Constellation Brands.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.