- Three-month sales increase 3.9% to US$426.1m
- Reverse on Q4 2023’s -3.1%
- Shipments up 0.9% in preparation for summer
A near-4% climb in sales from the three months to the end of March, announced late last month, represented a sizeable improvement for the Truly hard seltzer brand owner on the previous quarter – and full calendar year’s – value sales declines. Among the causes cited by the brewer for the increase were a rise in shipments “as distributors built inventories to support the company’s peak selling season”.
Boston Beer also noted growth from its Twisted Tea brand, although Truly “and the company’s other brands” registered declines. Specific figures on a brand level were not disclosed.
The quarterly figures represent the last set to be overseen by CEO Dave Burwick, who made way for Michael Spillane at the start of April. “I’m thrilled to have recently joined Boston Beer as CEO,” said Spillane. “Our first quarter performance reflects a solid start to the year … .
“We remain focused on executing our strategy to return to growth and expand margins by investing in our … brands, launching disciplined innovation and optimising our supply chain.”
