Boston Q3 Depletions Down 3.5%

Dear Client:Recall Boston Beer's surprisingly buoyant Q2 report, where depletions were down a mere 3%, despite the double-digit dip they'd taken in Q1 (and many embattled quarters before).Ahead of today's Q3 report, analyst consensus was nonetheless that bright spots like Truly and Tea were too competition-plagued and altogether not enough anyway for a real, sustained turnaround. There was also a beneficial July 4 "load in" factor for Q2, CEO Martin Roper admitted, that they hadn't had in the comp. Analysts