Twisted Tea Is Crushing It For Boston Beer -- Market Talk

Dow Jones04-26

1844 ET - Boston Beer has bucked a multi-quarter streak of declining shipments, and its Twisted Tea brand seems to be entirely responsible. CFO Diego Reynoso says on a call with analysts that the company's 0.9% increase in shipments was due to growth in Twisted Tea, which offset declines in Truly Hard Seltzer and Boston Beer's other brands. Sales of the alcoholic iced-tea beverage were up 21% in 1Q, and the company says it's still gaining shelf space. Depletions were flat for 1Q, also breaking a streak of declines. Boston Beer shares rise 4.4% to $300 after-hours. (ben.glickman@wsj.com; @benglickman)

(END) Dow Jones Newswires

April 25, 2024 18:44 ET (22:44 GMT)

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