CBA Q2: Flat Shipments, Depletions +3% “Demonstrates Quarterly Volatility as We

Dear Client:Craft Brew Alliance's Q2 call is live tomorrow. Therein you'll hear that shipments were flat for the quarter, while depletions gains clocked in around +3%. Year to date total beer shipments were up 6% to 360,400 barrels, and depletions up 5%. Full-year depletion growth guidance is now between 8% and 10% revised from "high single to low double digit growth." Total shipments for the quarter were basically flat from last year "primarily as a result of significant programing timing