Boston Beer announced financial results for the third quarter 2022 (13 weeks ending September 24). Depletions for the company decreased 6% and shipments increased 1.4% (to 33,000 bbls) compared to the third quarter of 2021.
Net revenue of $596.5 million increased 6.2% compared to net revenue realized in the third quarter of 2021 with gross margin of 43.2%.
Depletions year-to-date decreased 7% from year-to-date 2021, reflecting decreases in Truly Hard Seltzer, Angry Orchard, Dogfish Head, and Samuel Adams brands, partially offset by increases in its Twisted Tea and Hard Mountain Dew brands.
Shipment volume year-to-date was approximately 6.5 million barrels, an 8.0% decrease from year-to-date 2021, reflecting decreases in Truly Hard Seltzer, Angry Orchard, Dogfish Head, and Samuel Adams brands, partially offset by increases in its Twisted Tea and Hard Mountain Dew brands.
Full financial report here.