Boston Beer Company reported strong third quarter results with a 19% increase in shipments over the same period last year.
The quarterly financial report was the first to combine Boston Beer numbers with those of Dogfish Head since the recent merger of the two companies. Net revenue for the two combined increased by 23% for a total of $378.5 million. Year to-date net revenue is up 23% to $948.5 million and shipments are up by 21%. Boston Beer has had a strong 2019 after suffering lethargic growth in recent years. The climbing performance has been enhanced by strong sales of non-traditional beer brands such as Truly Hard Seltzer and Twisted Tea.
Jim Koch, Chairman and Founder of the Company, commented in a statement, “We completed our merger with Dogfish Head on July 3 and are making good progress on the integration. We have welcomed our Dogfish Head coworkers and we continue to learn a lot from each other, as we share our passion for brewing, creativity and maintaining a strong culture.
Full news release with financial details here.