Boston Beer, makers of Sam Adams and Angry orchards among other brands, has hardly reported good news in recent time. The company seemingly became a victim of its own success. The craft beer industry that Boston Beer helped launch has become so large — and so local-focused — that Boston Beer has become lost amidst the thousands of national craft breweries. Times have been tough, and rumors of a sell-out persisted.
But this week the company had good news to release. As reported by Brewbound, Boston Beer in a call with investors and analysts announced double-digit revenue and shipment growth in the first quarter of 2018.
This included 17.8% growth in net revenue, totaling $190.5 million, and a 15% jump in shipments to 813,000 barrels. This time last year, the company had bad news for Q1 2017: shipments had decreased 15%to 707,000 barrels, while revenue declined 14% to $161.7 million.
Dave Burwick, the company’s new CEO (pictured atop, right, with Koch), also mentioned gains in depletions by Twisted Tea and Truly Spiked & Sparkling, which helped make up for losses experienced by certain Sam Adams brands.
During the call, Koch said that threats to Boston Beer remained with the ever-growing craft industry. To help address this, the company will soon open new tap rooms in Boston and Cincinnati.