Boston Beer announced that third-quarter revenue climbed 25% to $269.7 million versus same period last year, driven primarily by a 23% increase in core shipment volume, to 1.2 million barrels.
Depletions were up an impressive 21%, bringing year-to-date depletions growth to 25%.
Notably, advertising, promotional and selling expenses increased by $8.9 million, or 16%, during the quarter.
In a conference call to shareholders and industry observers, Boston Beer provided its expected first peek at some specifics for 2015. First, it calls for depletions and shipments growth of 10% and 15%, respectively. Boston Beer also sees national price increases of between 1% and 2% — compared to this year’s 2% increase — and expects full-year 2015 gross margin to remain steady at between 51% and 53%.