Brick Brewing Co.

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Brick’s Q2 sales fall, but earnings rise

Waterloo Region Record
By Record staff

WATERLOO — Brick Brewing improved its second-quarter earnings despite an 8.4 per cent decline in sales. 

The Waterloo-based beer maker said Thursday that it had earnings before interest, taxes, depreciation and amortization (EBITDA) of $1.6 million in the three months ended July 27, up from $400,000 in the second quarter a year ago.

It earned net income of $445,453 in the second quarter. It lost $458,226 in the same period a year ago.

Net revenue slipped to $10.4 million from $11.4 million a year ago as cooler weather affected sales. The company also noted that in the second quarter a year ago it ran a promotion for its new Laker 12-pack.

Brick said its profit margins improved due to lower operating costs, the absence of the Laker 12-pack promotional costs it incurred a year earlier and increased sales of premium products.

It noted that volume for its premium beers – including Waterloo Pilsener, Waterloo IPA, Waterloo Dark, Waterloo Amber and Waterloo Radler – increased 39 per cent compared to the second quarter a year ago.

It said volumes for its Seagram coolers was down due to reduced listings at the LCBO and the absence of a of cider mix pack compared to a year ago.