Boston Beer Has a Red Hot Q1, And it Ain’t Even Summer

Dear Client:    Boston keeps besting itself. Despite lapping some 2020 pandemic pantry loading weeks in their Q1 period this year, they nonetheless pulled out first quarter depletion growth of 48% (almost doubling their Q4 depletion trend of 26%). Shipments were up a hair over 60%, to 2.3 million barrels.  The showing caused Boston to revise their full-year depletion and shipment growth guidance upward, to between 40% and 50%, from the previously communicated range of 35% to 45%. All this and