Craft Brew Alliance will detail its Q3 results next week

Craft Brew Alliance will detail its Q3 results next week

Craft Brew Alliance has narrowed its full-year guidance ahead of releasing its third-quarter results next week.

The US company, which returned to profit in the first half of this year, has also confirmed the completion of its operational set-up in Memphis.

Depletion growth in 2014 is now forecast to come in between 7% and 9%, with a gross margin rate of 29% to 30%, CBA said today.

The Memphis facility came online in July and gives CBA the opportunity to up its contract brewing revenue by around 40% this year.

“While start-up costs associated with the launch of Memphis operations had a negative impact on the stand-alone third quarter results, these costs were largely in line with our expectations, enabling us to reaffirm and tighten our full-year 2014 guidance,” said CFO Mark Moreland.

The company's CEO, Andy Thomas, added: “We couldn’t be more pleased with the successful execution of our Memphis operations, which represents an important part of our strategy to continue growing the topline, while driving substantial improvements to the bottom line.”

CBA, which was formed in 2008 through the merger of Widmer Brothers Brewing and Redhook Ale Brewery, will release its Q3 results on 5 November.

To read the company's official statement, click here.