It wasn’t pretty, but it was better than expected for three global brewers who posted third quarter earnings last week. AB InBev reported 4% revenue growth in the third quarter, far better than the 4.2% drop predicted by analysts while Heineken’s organic volume sales fell 1.8% in the third quarter. Carlsberg was hit the… Read More…
Molson Coors Third Quarter Sales Down by 3%
Molson Coors Beverage Co. reported a decrease of 3.1% in the third quarter of fiscal 2020, driven by the continued on-premise restrictions from the Covid-19 pandemic. Net sales for the third quarter of $2.75 billion, compared with $2.84 billion in the third quarter of fiscal 2019. The company reported net income of $350.8 million…. Read More…
Boston Beer Reports Strong Qtr.3 with Shipments Up 30%
The Boston Beer Company reported third quarter 2020 net revenue of $492.8 million, an increase of $114.3 million or 30.2%, from the same period last year. Net income for the third quarter was $80.8 million, an increase of $36.0 million or 80.6% from the same period last year. Shipments increased 30.5% and 34.1% from… Read More…
ABInBev and Molson Coors Show Big Drop in 2nd Quarter Financial Reports
In a peek at how the global pandemic is impacting the worldwide beer market, Anheuser-Busch InBev disclosed their second quarter earnings yesterday. Global revenue declined by 17.7% in the second quarter compared to the same period last year with a decline of 12.0% year-to-date. Beer volume was down 17.0%. The worlds largest brewer showed signs… Read More…
Boston Beer Reports Big 2 Qtr. Results with Shipments up 40%
The pandemic has not been a crisis for everyone in the beer business. Boston Beer Company today reported second quarter 2020 net revenue of $452.1 million, an increase of $133.7 million or 42.0%, from the same period last year. Net income for the second quarter was $60.1 million, an increase of $32.3 million or 116%… Read More…
ABInBev Volume Down 9.3% in First Qtr Due to Pandemic
Anheuser-Busch InBev released their 2020 first quarter earnings report and it is a stark reminder of just how rough the global pandemic has been on the beer industry. Total volume worldwide was down 9.3% and total revenue was down 5.8%. April volume was down a huge 32%. The company also said that second quarter… Read More…
CBA Down 6% First Quarter
In what will likely be a long string of troubling first quarter financial reports in the brewing industry, Craft Brew Alliance reported first quarter shipments down 6% and revenue down 8%, due to “on-premise closures” according to a company financial statement released today. Kona, the company’s largest brand was down 2% in shipments while Widmer… Read More…
Heineken Drops in 1st Quarter – Lagunitas Continues to Struggle
Heineken reported that total company volume in the US declined mid-single digit, despite the Heineken brand itself growing low-single digits driven by strong sales of Heineken 0.0. Lagunitas sales were reported as down high-single digits, the largest quarterly drop since the company acquired the California company. This was certainly due in part to the… Read More…
Boston Beer Continues Strong Growth
Despite the impact of the COVID-19 pandemic in the second half of March, the Boston Beer Company reported a continuation of impressive growth in first quarter 2020 with a net revenue of $330.6 million, or 31% from the same period last year and an increase in shipments of 32%. Excluding the addition of the Dogfish… Read More…
Budweiser Continues to Lose Market Share
After a disappointing year last year, Anheuser-Busch InBev announced today that they expect first-quarter earnings will drop about 10%, the sharpest drop in over a decade. Fourth-quarter net income dropped 75% to $114 million, from $456 million a year earlier and revenue was down 1.3% to $13.33 billion. In the U.S., which is its… Read More…
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