The Boston Beer Company Sees FY24 EPS $8.00-$10.00 Vs $9.60 Est.
Portfolio Pulse from Benzinga Newsdesk
The Boston Beer Company has provided its financial guidance for FY24, projecting non-GAAP EPS between $8.00 and $10.00, compared to an estimate of $9.60. The company anticipates a slight decrease in depletions and shipments, a 2% price increase, and a gross margin of 44% to 45%. The effective tax rate is expected to rise to 30%. The guidance is sensitive to volume projections, supply chain performance, and inflationary impacts.
October 24, 2024 | 8:29 pm
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Boston Beer Company projects FY24 non-GAAP EPS of $8.00-$10.00, slightly above the $9.60 estimate. The guidance reflects a slight decrease in shipments, a 2% price increase, and a gross margin of 44% to 45%. The effective tax rate is expected to rise to 30%.
The guidance provided by Boston Beer Company suggests a positive outlook with non-GAAP EPS slightly above estimates. The company's ability to manage price increases and maintain a stable gross margin despite challenges indicates potential short-term stock price appreciation.
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