Boston’s Plan: “Fuel” Twisted Tea’s Growth, “Moderate” Truly’s Declines

Dear Client:  Despite double-digit growth for Boston Beer Company’s portfolio darling Twisted Tea in Q2 (for the period ended July 1), similarly trending losses for Truly Hard Seltzer meant Boston’s projected 2023 guidance range of shipments and depletions down 2 to down 8% continues to hold true going into Q3. Boston’s Q2 depletions (for the period ended July 1) were down 3%, with shipments down 4.5%. Boston portfolio decreases were only “partially offset by increases in its Twisted Tea and