> ## Content Index
> Fetch the complete content index at: https://bevnews.net/llms.txt
> Use this file to discover other available public pages before exploring further.

# Boston Beer Shipments, Depletions, Revenue Fell, But Profit Increased
- URL: https://bevnews.net/boston-beer-shipments-depletions-revenue-fell-but-profit-increased/
- Published: 2023-07-28T01:33:41.000Z
- Updated: 2023-07-28T01:33:41.000Z
- Author: Joel Whitaker
- Tags: Earnings

**Boston Beer Co.** reported depletions eased 3% in the second quarter, shipments decreased 4.5%to 2.3 million barrels, and net revenue slipped 2.1% to $6.03 million, but net income advanced 8.8% to $58 million or $4.72 a share. 

"As we expected, our second quarter performance reflected strong growth in **Twisted Tea**, offset by continuing challenges in the hard seltzer category, and we are reiterating our 2023 depletion and shipment expectations as well as our earnings guidance," said President and CEO Dave Burwick. 

Depletions in the second quarter decreased 3% from the prior year, reflecting decreases in the Company's **Truly Hard Seltzer, Angry Orchard, Hard Mountain Dew** and **Samuel Adams** brands, partially offset by increases in its **Twisted Tea** and **Dogfish Head** brands.

"Based on our second quarter financial performance, we plan to increase our balance of year spend behind both the Truly and Twisted Tea brands as we believe our messaging is effective and the business will respond over the short-and longer-term to these investments. We are focused on enhancing our productivity to continue to improve our gross margin and in turn incrementally invest to further strengthen our brands."