The Boston Beer Company continues to reap the success of being one of the first to dive deep into the hard seltzer category with their hugely successful Truly brand. The company reported first quarter 2021 net revenue of $545.1 million, an increase of $214.5 million or 64.9% from the same period last year, mainly due to an increase in shipments of 60.1%. Net income for the first quarter was $65.6 million, an increase of $47.3 million or 259.6% from the same period last year.
Depletions increased by 48% from the 13-week comparable period in the prior year. Shipment volume was approximately 2.3 million barrels, a 60.1% increase from the comparable 13-week period in the prior year.
Full report and details here.