SAM - Beer bottlers down following disappointing hard seltzer results

Beverage can manufacturing stocks, such as Ball Corporation ([[BLL]] -3.2%), Crown Holdings Inc. ([[CCK]] -3.5%), Ardagh Group S.A. ([[ARD]] -0.7%), and Silgan Holdings Inc. ([[SLGN]] -1.3%), dropped during trading today after The Boston Beer Company ([[SAM]] -23.6%) posted disappointing earnings and lowered its outlook Thursday.Boston Beer Company blamed the company's poor quarter on the low consumer demand for its hard-seltzer brand Truly."The significant growth of the hard-seltzer category in recent years has been a (if not the) major driver of the surge in N.A. beverage-can demand since 4Q18” commented KeyBanc analyst Adam Josephson.Investors are concerned that demand for cans may slow after manufacturers increased capacity to account for the sudden climb in hard-seltzer demand.

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Beer bottlers down following disappointing hard seltzer results