- Sales in three months to end of March increase 6.5% to US$453.9m
- Builds on flat top line in 2024
Healthy sales in the first three months of this year have set the scene for The Boston Beer Co.
A +6.5% showing for the group’s sales in Q1 was joined by a rise in volumes of 5.3%. The increases were credited to Boston Beer’s Sun Cruiser, Hard Mountain Dew and Twisted Tea RTD brands although Truly, the main driver of RTD growth for the group in recent years, was down by an unspecified amount in volumes terms.
As promised in 2024’s full-year results earlier this year, advertising, promotional and selling expenses rose markedly in the quarter, by 14.3%, as the company upped investment in “media and local marketing”.
“Our first quarter performance reflects a solid start to the year as we increased our market share and significantly expanded gross margin,” said CEO Michael Spillane. “As the macroeconomic climate continues to be challenging, we remain focused on executing our strong operating plans for the summer season, across our core brands and our recently introduced innovations, supported in both cases by targeted advertising investment.”
Boston Beer also noted that it expects the “tariff programmes announced by the US Government as of 2 April” – President Trump’s self-described “Liberation Day” – to result in a full-year cost impact of between $20m and $30m.
“While the external environment remains dynamic, we have a diversified portfolio of iconic brands, strong innovation pipeline and the best sales force in beer,” added founder Jim Koch.
