Sam Adams-Parent Boston Beer Reports Q2 Results
Portfolio Pulse from Erica Kollmann
Boston Beer Company Inc (NYSE:SAM) reported Q2 earnings of $4.39 per share, missing the $5.10 estimate. Sales were $579.1 million, below the $597.333 million estimate. Depletions decreased 4% and shipments decreased 6.4%. Gross margin improved to 46%. The company reaffirmed its full-year guidance of GAAP EPS between $7.00 and $11.00. Shares fell 5% after-hours.
July 25, 2024 | 9:18 pm
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Boston Beer Company Inc (NYSE:SAM) reported Q2 earnings of $4.39 per share, missing the $5.10 estimate. Sales were $579.1 million, below the $597.333 million estimate. Depletions decreased 4% and shipments decreased 6.4%. Gross margin improved to 46%. The company reaffirmed its full-year guidance of GAAP EPS between $7.00 and $11.00. Shares fell 5% after-hours.
Boston Beer missed both earnings and sales estimates, which is likely to negatively impact investor sentiment in the short term. The decrease in depletions and shipments further adds to the negative outlook. Although gross margin improved and full-year guidance was reaffirmed, the immediate reaction is a 5% drop in share price after-hours.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100