Craft Brewing and Distilling News for February 23, 2021February 23, 2021
•For its fiscal fourth quarter 2020, the Boston Beer Company reported that depletions were up 26% for the quarter and 37% for the full year. The company attributed the growth to the continued success of the Truly Hard Seltzer and Twisted Tea brands, with chairman Jim Koch identifying Truly Lemonade as a particularly successful release for the year. Net revenue was up 53% for the quarter to $460.9 million and net income was up nearly $20 million over Q4 2019 to $32.8 million. The continued strong performances from Truly and Twisted Tea more than offset losses for Samuel Adams, Angry Orchard, and Dogfish Head, though the company has high hopes for upcoming Sam Adams and Dogfish Head releases.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.