Sam Adams maker Boston Beer Co. plans to launch several new styles and brands in 2021 to capitalize on growth that comes as the pandemic boosts sales and its stock price.
In its third quarter earnings report on Thursday, Boston Beer said it would launch Twisted Iced Tea Hard Seltzer; Samuel Adams Just the Haze, the brand’s first non-alcoholic drink; Dogfish Head Scratch-Made Canned Cocktails; and Angry Orchard Fruit Cider.
Executives hope the additions will drive a continued boost in sales for the company, following a successful third quarter that saw $80.8 million in net income (an 80.6% increase from the third quarter of 2019), and a 30.5% increase in shipment volume to 2.1 million barrels, compared to the same quarter last year.
Much of that success was driven by Truly Hard Seltzer and Twisted Tea brands, offset by decreased sales in Sam Adams, Angry Orchard and Dogfish Head, which were hurt by bar and restaurant closures during Covid-19.
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