Anheuser-Busch InBev (A-B) recorded double-digit shipments and depletions declines for its U.S. business in 2023, drawing to a close a tumultuous year for the company, A-B reported today.
Monster Beverage Company reported that it has “restructured” the senior management of its alcohol brands division, following the appointment of Ray LaRue as president, the company shared within its Q3 2024 financial results. Nevertheless, the company said it remains “positive for the prospects of alcohol products within our broader portfolio.”
Today’s Q3 earnings by Anheuser-Busch InBev (A-B) were less spooky than last Halloween’s results, with the company’s total U.S. trends now returning to patterns similar to those before the 2023 Bud Light boycott.
Boston Beer Company’s Q3 financials were described by one analyst, Bernstein’s Nadine Sarwat, as “a messy set of results.” The company’s portfolio – including Samuel Adams, Dogfish Head, Truly Hard Seltzer, Angry Orchard, Sun Cruiser and Hard MTN Dew – reported a -1.9% year-over-year (YoY) decline in shipments (sales to wholesalers) and -3% decline in depletions (sales to retailers) in the quarter.
Boston Beer Company eked out a year-over-year (YoY) increase in revenue in Q3, despite another quarter of contracting shipments and depletions, and several impairment charges for its craft brands.
Earnings calls from Brown-Forman and Pernod Ricard echoed other spirit companies struggling to regain their footing in the U.S. as the inventory build-up continues. Meanwhile, Pernod Ricard announced separately it is further bolstering its non-alc portfolio.
After a “soft” quarter, Boston Beer executives laid out the company’s plans for growth in the second half of 2024 and beyond during a conference call on Thursday with investors and analysts. Boston Beer – whose portfolio includes Twisted Tea, Truly Hard Seltzer, Samuel Adams, Angry Orchard, Dogfish Head and Hard MTN Dew – recorded shipments (sales to wholesalers) declines of -6.4% and depletions (sales to retailers) declines of -4.% in Q2. This followed a Q1 with shipment growth of +0.9% and flat depletions.
Boston Beer Company failed to keep up with softer comps and continued to post declines in Q2 2024, with negative trends accelerating versus Q2 2023, according to the company’s latest earnings release, covering the three months ending June 29.
Brown-Forman announced yesterday a -8% decline in reported net sales to $1.0 billion in Q4 FY 2024 driven by lower volumes of tequila and whiskey, and the broader slowdown in the spirits industry.
Anheuser-Busch InBev’s (A-B) U.S. businesses recorded double-digit shipments and depletions declines in Q1, the final quarter before the company begins to lap initial accelerated declines from the conservative-led boycott of Bud Light that began in April 2023.
Boston Beer Company’s Q1 volume woes eased in 2024, after Q1 shipments and depletions declines in both 2022 and 2023.
Tilray’s August 2023 acquisition of eight craft brands from Anheuser-Busch InBev (A-B) has boosted the Canadian cannabis company’s beverage-alcohol net revenue +165% year-over-year (YoY), it reported today.
Boston Beer Company reported its 2023 full-year and fourth-quarter earnings amid a flurry of news, including that CEO Dave Burwick will retire, a Nike exec will supplant him and that its Hard MTN Dew brand will shift to beer wholesalers from PepsiCo’s erstwhile Blue Cloud Distribution.
Molson Coors’ gains at the expense of competitor Anheuser-Busch InBev’s losses continued to show in the company’s fourth quarter and full-year earnings reports.
The beverage alcohol division of Canadian cannabis giant Tilray grew revenue +117%, to $46.5 million, in the second quarter of the company’s fiscal year compared to the same quarter last year, the company reported Tuesday. However, the division’s gross margin declined -13% year-over-year (YoY), to 34%, in the quarter, driven by Tilray’s acquisition of eight… Read more »
