- Three-month sales to end of June increase 1.5% to US$587.9m
- Behind Q1’s +6.5% growth rate – half-year sales rise 3.6% at $1.04bn
- Cost impact from tariff moves reduced to $15m-to-$20m for 2025
The Boston Beer Co has seen the second quarter of this year perform similarly to Q2 last year relative to their respective prior three-month periods.
Following the first quarter’s impressive lift in sales of 6.5%, the Samuel Adams beer and Truly RTD owner has booked a 1.5% rise from the three months to the end of June. Last year saw Q1’s top-line increase undone by a decline in Q2.
Subsequently, for the first half of 2025, Boston Beer’s sales sit at +3.6%.
For the most recent three months, the company noted a 5% dip in depletions (volumes) with both Sam Adams and Truly dragging on the growth recorded by the Dogfish Head craft beer and Sun Cruiser vodka-based RTD brands. Founder & chair Jim Koch blamed the current pressure on volumes on “economic uncertainty impacting consumer behaviour” as well as “poor weather in some key selling weeks”.
CEO Michael Spillane added: “While the macroeconomic environment remains challenging – and we do expect shipments to rebalance in the second half of the year – our first half performance and strong operating plans for the remainder of the summer give us confidence in our ability to deliver our full-year financial guidance.”
While the forecasts for 2025 do not include a top-line estimate, volumes are expected to be down by between high and low single digits; Previous guidance had included the possibility of a low single-digit lift in volumes.
On the plus side for the coming months, the forecast of the total cost impact of the tariff situation in the US has been reduced, from the $20m-to-$30m bracket previously to $15m-to-$20m.
Earlier this month, the company renewed its tie-up with the Boston Red Sox baseball team, as Samuel Adams will retain its ‘official beer’ status for a further ten years.
The arrangement with Boston Beer’s local club commenced in 2018, “when Sam Adams became the first American craft brewer to enter a partnership with a big-league franchise for this length of time and at this level”.
