Boston Beer Company, Inc.

Greetings and welcome to the Boston Beer Company first quarter 2024 earnings call. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce to you Mike Andrews, Associate General Counsel and Corporate Secretary. Thank you, Mike. You may begin.

Thank you. Good afternoon and welcome. This is Mike Andrews, Associate General Counsel and Corporate Secretary of the Boston Beer Company. I'm pleased to kick off our 2024 first quarter earnings call. Joining the call from Boston Beer are Jim Cook, Founder and Chairman, Michael Spillane, our CEO, and Diego Reynoso, our CFO. Before we discuss our business, I'll start with our disclaimer. As we state in our earnings release, some of the information we discuss and that may come up on this call reflects the company's or management's expectations or predictions of the future. Such predictions are forward-looking statements. It's important to note that the company's actual results could differ materially from those projected in these forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained in the company's most recent 10Q and 10K. The company does not undertake to publicly update forward-looking statements, whether as a result of new information, future events, or otherwise. I will now pass it over to Jim for some introductory comments.

Thanks, Mike. I'll begin my remarks this afternoon with a few introductory comments and then hand over to Michael, who will provide an overview of our business. Michael will then turn the call over to Diego, who will focus on the financial details of our first quarter results, as well as our outlook for the remainder of 2024. Immediately following Diego's comments, we will open the line for questions. We were pleased to see flat depletions in the first quarter and to deliver revenue growth. Twisted Tea continues its strong momentum and we continue to make steady progress on our margin enhancement initiatives. Our strategy to return to long-term sustainable growth through investing in our powerful brands and continuing to innovate in Beyond Beer remains unchanged. The cash-generative nature of our business and our strong balance sheet supported our repurchase of $65 million in stock thus far in 2024. I'd like to thank our Boston Beer Company team, distributors, and retailers for their support in a solid start to the year. And I'm delighted to have on the call today Michael Spillane, who formally joined as our CEO earlier this month. Michael's strong operational experience in consumer products and his long history with our company make him the ideal choice to continue the implementation of our strategy to return to long-term growth. I'd also like to take this opportunity to thank Dave Berwick for his 19 years of excellent contributions to Boston Beer and his assistance to Michael in the transition. I will now pass the call over to Michael.