Craft Brewing And Distilling News for April 26, 2019April 26, 2019
•The Boston Beer Company’s net revenue surged by 32% to $251.7 million in the first quarter of this year, while operating income more than tripled to just under $30 million. According to the company, the strong growth was due to accelerated shipments, which rose 32.5% to approximately 1.1 million barrels, as distributors stocked up ahead of the summer season. Depletions during the first 13 weeks of the year were up by 11%. First-quarter growth was driven by the Truly Spiked and Sparkling and Twisted Tea labels—which are expected to ramp up further over the summer—offsetting decreases for Samuel Adams and Angry Orchard. Looking forward, Boston Beer is predicting shipment and depletions growth of between 10% and 15% for the full year. Founder and chairman Jim Koch said the company continues to monitor “challenges across the industry, including a general softening of the craft beer category and retail shelves that offer an overwhelming number of options to drinkers,” and noted that a packaging update for Samuel Adams is currently hitting the market.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.
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