Boston Beer Reaffirms FY24 GAAP EPS Guidance at $7.00-$11.00 vs $10.27 Est.; Lowers FY24 Depletions and Shipments Percentage Change Guidance From Down Low Single Digit To Up Low Single Digit To Down Low Single Digit To Zero
Portfolio Pulse from Benzinga Newsdesk
Boston Beer has reaffirmed its FY24 GAAP EPS guidance at $7.00-$11.00, which is in line with the $10.27 estimate. However, the company has lowered its FY24 depletions and shipments percentage change guidance from 'down low single digit to up low single digit' to 'down low single digit to zero'.
July 25, 2024 | 8:17 pm
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Boston Beer has reaffirmed its FY24 GAAP EPS guidance at $7.00-$11.00, aligning with the $10.27 estimate. However, the company has revised its FY24 depletions and shipments percentage change guidance from 'down low single digit to up low single digit' to 'down low single digit to zero'.
While the reaffirmation of the GAAP EPS guidance is positive and aligns with estimates, the lowering of the depletions and shipments guidance could indicate potential challenges in sales performance. This mixed news is likely to create short-term downward pressure on the stock price.
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IMPORTANCE 80
RELEVANCE 100