📉 A-B Begins Boycott Lap: Q2 2024 Shipments -2.7%, Depletions -4.1%

Anheuser-Busch InBev reported its first round of earnings that cycle last year’s Bud Light boycott. Insiders are reading why management believes Bud Light is stabilizing and how they’re rebalancing their portfolio.

Insiders are also:

• Reading tips and insights on what their distributor partners want;
• Seeing which top execs are joining Boston Beer’s board;
• And getting details on a new non-alc collab beer.

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Anheuser-Busch InBev’s (A-B) U.S. shipments (sales to wholesalers) and depletions (sales to retailers) remained in the red in Q2 2024 as the company cycled the double-digit declines from this time last year, when the conservative-led boycott of Bud Light began following a promotion with Dylan Mulvaey, a social media influencer who is transgender.. 

A-B’s U.S. shipments and depletions declined single digits, -2.7% and and -4.1%, respectively, in the second quarter, the first comps with boycott. U.S. revenue declined -0.6%, even as revenue per hectoliter increased +2.2%. 

Recall that in Q2 2023, A-B’s U.S.shipments and depletions declined -15% and -14%, respectively, and revenue declined -10.5% as the boycott ramped up.

The single-digit declines marked an improvement compared to the double-digit declines in Q1 2024 as shipments fell -10.1% and depletions decreased -13.7%. 

Insiders can read more about A-B’s U.S. trends, why leadership believes Bud Light is stabilizing. 

Molson Coors received the highest overall rank in Tamarron Consulting’s 26th annual Brewer Partnership Compass survey, which analyzes top brewing companies’ relationships with their distributor partners. 

Tamarron’s 47-question survey found that Molson Coors performed well in key areas such as “relationships and communication, off-premise chain accounts, planning and plan management, and in-market support,” the firm shared Wednesday. Responses from 171 distributors from across the U.S. were fielded between early April and mid-May.

Tamarron's survey also offered insights into how suppliers can better work with their wholesaler partners. 

Brewbound Insiders can do deeper into the results. 

How is beer doing at the halfway point of 2024? Brewbound reporter Zoe Licata shares highlights from not one, but two mid-year beer reports. Zoe breaks down the Brewers Association’s mid-year craft report, as well as a total beer overview from the National Beer Wholesalers Association and Fintech halfway through 2024. 

Plus, Zoe and Brewbound editor Justin Kendall discuss the latest earnings reports from Boston Beer and Tilray Brands, including nuggets on Twisted Tea and Truly’s hold on Boston’s portfolio and improvements in Shock Top’s trends.

Justin also relays his experience on the Voodoo Ranger pirate ship and spotting Stone Brewing co-founder Greg Koch’s graphic novel at San Diego Comic-Con.

Listen here or on your preferred podcast platform.

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