Portland, Ore.-based craft beer giant Craft Brew Alliance Inc. (BREW) saw its shares fall about 5.5% in after-hours trading, only to jump back up about 1% on Friday morning on after posting weaker-thanexpected quarterly earnings and full-year 2016 results.

In the most recent fourth quarter, Craft Brew posted adjusted earnings per share (EPS) of $0.02 on revenue of $45.8 million, while analysts had predicted earnings to come in at $0.15 per share on sales of $48.95 million.

BREW’s Q4 revenue was down 7.6% over last year, while adjusted EPS fell from $0.07. For the full year, Craft Brew swung to a loss of $0.02 per share on revenues of $202.5 million. Moving forward, the craft brewer plans to leverage its Kona brand’s solid growth, advance its deal with Budweiser manufacturer AB InBev (BUD) and secure other strategic partnerships for 2017.

Craft Brewer Banks on Kona Brand

In the quarter ended Dec. 31, Craft Brew said depletion growth for its Kona Brands, which now represents over 50% of CBA’s portfolio, was at 12%, building on consistent double-digit growth every year since 2008. As for the craft Portland brewer’s relationship with AB InBev, several CBA beers have been qualified for production in AB’s Colorado brewery, while Kona was featured in a variety pack and the two are reportedly exploring potential international distribution opportunities. (See also: AB InBev Explores Techniques to Brew Beer on Mars.)

Shares of BREW trading at a price of $14.70 per share on Friday morning reflect an approximate 72% year-over-year (YOY) increase. Investors confidence in Craft Brew reflects the prospects they see in Millennial preference for craft over traditional beers. However, brewers pretty much across the board have been falling short of expectations and offering modest outlooks at best. (See also: Brewer Earnings Takes Hit at Craft-Beer Leader.)

Want to learn how to invest?

Get a free 10 week email series that will teach you how to start investing.

Delivered twice a week, straight to your inbox.