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Boston Beer CEO says hard seltzer is biggest shift ‘since light beer’ as company’s stock soars

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Boston Beer‘s chief executive officer said Friday that the hard seltzer craze is the biggest shift for beer drinkers in four decades, following an earnings report that sent his company’s shares skyrocketing.

“There’s this fundamental shift right now that hasn’t happened in the beer category since light beer was launched in the late ’70s, which is called hard seltzer,” CEO Dave Burwick said on “Closing Bell.”

Shares of Boston Beer, which owns the Truly brand of hard seltzer, spiked more than 25% on Friday, a day after the company reported second-quarter earnings. The beverage maker beat Wall Street estimates for earnings and revenue, according to FactSet, and grew its per-share earnings by…



Source cnbc.com

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