Wowza – Boston Beer Up Double-digits
Depletions up 14% for first quarter
Boston Beer Co. reported yesterday that core brand depletions were up a whopping 14% in the first quarter.
Boston Beer, often looked at as the barometer for the craft beer industry as a whole was expected to show growth this quarter against a 6% drop in the same period last year, but the mid-double digit growth was good news indeed,
The company posted strong results across the board, with net income of $6.3 million compared to net income of $1.37 million in the same quarter last year and gross margins up to 51% from 47% last year, in part due to a 2% price hike.
Gross profit per barrel increased to $104.80 per barrel from $74.02 for the three months ended March 28, 2009.
No, thank you, Noble Pils.
Way to go, Boston Beer. More power to you.
Bill
I also drank plenty of Noble Pils this spring.
Congrats to Boston Beer on such incredible growth and quality.
Just beware, because that 2million barrel mark in right in front of you!
The Brewers Association is ready for that. Note that their proposal to reduce the Federal Excise Tax for small brewers also includes changing the definition of same:
“The ceiling defining small breweries is 2 million barrels. We support raising this ceiling to 6 million barrels to more accurately reflect the intent of the original differentiation between large and small brewers in the U.S.”