Strong pricing, moderate cost hikes led AB to 12% earnings gain, despite just 1% shipments gain. AB rev per bbl up 2.8% in 1st qtr, its 18th qtr in a row of over 2% pricing, cfo Randy Baker told analysts. This was "especially strong" given "difficult" comparison. In 1st qtr 02, AB rev per bbl had been up 3.8%, with almost 1 full point coming from Bacardi Silver intro. AB nudged its full yr guidance on rev per bbl up to 2.2-2.5%. That

While industry shipments fell into hole in 1st qtr, AB stayed pretty much on track. Shipments up 325,000 bbls, 1.3%, well ahead of 0.3% STR gain suggesting AB loaded a bit, but lots better than any other major supplier. In fact, AB grabbed 52 share of shipments, 1st time it passed 50 for a full qtr, by INSIGHTS

Industry shipments picture sure is ugly: taxpaid shipments down estimated 1.5 mil bbls, 3.4% Jan-Mar. That includes 800,000-bbl, 5.2% drop in Mar, estimates Matt Hein of Beer Inst. Last time 1st-qtr shipments down 3% was 93, tho Matt reminds that industry ended that yr up. Gotta note too, looks like more-important sales-to-retail trend in 1st qtr down only slightly. For 12 mos thru Mar 2003, taxpaid shipments down nearly 1 mil bbls, 0.5%. AB is only big domestic brewer up, and even import gain slowed to just 3-4% for 12 mos, we estimate. At presstime Coors and SABMiller hadn

Finally got copies of lawsuits in late-Feb RI club fire that claimed 100 victims. Distribs/brewers who frequently promote events will want to read some of the language. In fed and state suits, plaintiffs claim both AB and distrib McLaughlin & Moran are liable as alleged "sponsors" of the show. AB

Data in 40 states complete for top 3 brewers for 2002 (tho not all state totals), underscores importance of a few key states for AB and Miller. AB up in 32 of 40 states, but it grew 848,000 bbls, 4% in 3 big states: Tex, Fla and OH. Those 3 states were 40% of AB gain, but just 20% of its volume. AB up 459,000 bbls, 4.9% in Tex. Gained 260,000 bbls, 3.6% in Fla and 129,000 bbls, 2.7% in Oh. AB didn

US beer biz is "pretty uncertain at the moment," HUSA prexy Frans Van der Minne told NC distrib assn meeting. Why? Because if you pull out growth in flavored malt bevs, "domestic beer was actually flat" in 2002. That

Wash Beer & Wine Wholesalers Assn wasted no time working to restore protections for beer distribs there after state Sup Ct threw out franchise law (see Mar 3 INSIGHTS). Recall that ct ruled franchise law violated Commerce Clause because it favored in-state vintners over out-of-state vintners and tossed beer provisions for good measure. But in quick 1-2 victories, WBWWA got a bill, restoring beer distribs

Remember 2001 when Smirnoff Ice came out of nowhere to get near 2 share of $$ in supers? Well, there

Coors had mediocre sales and pricing again in 1^st qtr, but probably gained a bit of retail share in weak US mkt. So even tho Coors profits declined 97%, $27 mil to just $1 mil, slightly better-than-expected sales-to-retailers led a couple of analysts to upgrade. Stock subsequently shot up 10%+. Go figure. Coors STRs up 1.4% in US and up 0.8% in Americas (includes PR). But factor out timing of New Year

Light beer segment continued its march towards half of all beer sold in US last yr with another 3-mil-bbl, 3.4% gain to 92.1 mil bbls, BMI estimates. About 3/4 of light beer is premium-priced and above, including Mich Light and Ultra. Premium lights grew 4% in 02 while lower-priced light beers up 1%. Since 97, light beer segment up 18 mil bbls, 24% and picked up nearly 7 share. Only other segments that grew in 2002 were high-end: imports, specialties and malternatives. Add up hi-end segments (including superpremiums, plus Mich Light and Ultra), and higher-priced beers hit 42 mil bbls, 20.6 share of total shipments in 2002. That