CBA Depletions Down 6% for Q1

Dear Client: CBA earnings just hit, previously unannounced. Digging into the 10-Q filing, it appears that overall depletions were down 6% for the quarter. Kona depletions were down 5%, Widmer down 13%, Redhook down 9%, and Omission up 5%.  First quarter shipments were also down 6%, partially reflecting COVID-19 impacts. Naturally, virus-spurred shutdowns affected their brewpub business, where closures to on site guests "significantly reduced demand for draft beer." The filing shows a decline of just over 17% in brewpub