The Boston Beer Company reports developments across a U.S. alcoholic-beverage portfolio that includes Samuel Adams, Twisted Tea, Truly, Dogfish Head, Sun Cruiser and Angry Orchard. News commonly covers craft beer, hard iced tea, hard seltzer, hard cider, ready-to-drink cocktails and flavored malt beverages, including seasonal releases, variety packs, collaborations and packaging innovations.
Company updates also include quarterly financial results, depletions and shipment trends, gross margin drivers, brand investment, share repurchase activity and litigation-related financial effects. Boston Beer produces beverages through a mix of company-owned capacity and contract brewing arrangements and sells through the distributor system that serves retailers and on-premise accounts.
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Samuel Adams has launched its 12th annual Brewing & Business Experienceship, allowing new craft brewers to apply for mentorship and collaboration. The program, part of the Brewing the American Dream initiative, has supported over 4,100 small business owners since its inception. This year’s collaboration beer, a rye IPA brewed with Checkerspot Brewing Company, features local Vienna Rye Malt and will be available at select taprooms. Applications for the Experienceship are open until April 10, 2023. The initiative aims to foster growth in the craft brewing sector, providing critical resources and ongoing support to emerging businesses.
Jim Beam has launched a new line of ready-to-drink cocktails, Jim Beam Kentucky Coolers, available nationwide in four flavors. Developed in partnership with The Boston Beer Company, these malt-based beverages cater to the growing RTD market, offering a lighter profile with full flavor. Each cooler contains 5% ABV and 120 calories, with a suggested retail price of $16.99 for a 12-pack. The flavors include Strawberry Punch, Black Cherry Lemonade, Sweet Tea Lemonade, and Citrus Punch, designed to be enjoyed chilled and shared with friends.
The Boston Beer Company (NYSE: SAM) reported its fiscal fourth quarter and full-year 2022 results, ending December 31, 2022. In Q4, net revenue rose 28.6% to $447.5 million, with a net loss of $11.4 million. Annual revenue reached $2.09 billion, up 1.6%, but depletions fell 5%. The company ended the year with $180.6 million in cash and no debt. Future guidance indicates potential depletions and shipments could decrease by 2% to 8% in 2023, with a projected GAAP EPS between $6.00 and $10.00. The management emphasized the need for strategic adjustments amid the decline in hard seltzer demand.
Boston Beer Company (NYSE: SAM) announced a comprehensive refresh for its Truly Hard Seltzer brand aimed at increasing market share and sustaining consumer interest. Changes include:
- Introduction of real fruit juice across its line.
- New packaging and marketing strategies.
- Relaunch of Truly Vodka Seltzer as Truly Vodka Soda.
- Kickoff of a partnership with U.S. Soccer.
These initiatives align with Truly's strategy to enhance visibility and refreshment perception as it navigates shifting consumer preferences.
The Boston Beer Company is launching a remastered version of its flagship beer, Samuel Adams Boston Lager, aimed at creating a smoother, brighter taste. This updated brew, which retains the original recipe from founder Jim Koch's great-great-grandfather, incorporates a traditional German brewing technique to enhance drinkability. Samuel Adams Boston Lager Remastered will be featured in a new commercial during the Big Game on February 12, showcasing the distinct charm of Boston. The campaign aims to celebrate the brewery’s history while appealing to both loyalists and new customers.