Boston Beer Inc

SAM

Equity

ISIN US1005571070 / Valor 116992

New York Stock Exchange, Inc (2024-11-21)

USD 307.18-0.61%

Boston Beer Inc
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About company

Boston Beer Inc is a craft brewery and beverage company that produces and sells a variety of alcoholic and non-alcoholic beverages, including beer, hard cider, and hard seltzer.

Summarized from source with an LLMView SourceSector: Consumer Non-Cyclicals

Revenue Decline

Boston Beer Inc. reported a net revenue of $579.1 million for the second quarter of 2024, which represents a 4.0% decrease compared to the same period in the previous year. This decline was primarily attributed to lower shipment volumes.

Net Income Decrease

For the second quarter of 2024, Boston Beer Inc. recorded a net income of $52.3 million, marking a decrease of $5.7 million or 9.8% from the prior year. The reduction in net income was influenced by lower revenue and increased costs.

Gross Margin Improvement

Boston Beer Inc. achieved a gross margin of 46.0% in the second quarter of 2024, up 60 basis points from the previous year. The improvement in gross margin was driven by price increases, procurement savings, and lower returns, despite higher brewery processing costs and inflationary pressures.

Depletions and Shipments

In the second quarter of 2024, Boston Beer Inc. experienced a 4% decrease in depletions and a 6.4% decrease in shipment volume compared to the same period in the previous year. The decline was mainly due to reduced demand for Truly Hard Seltzer, partially offset by growth in Twisted Tea and the newly launched Sun Cruiser brand.

Updated Full-Year Guidance

Boston Beer Inc. revised its full-year 2024 guidance, projecting depletions and shipments to range from a low single-digit decline to zero growth. The company maintained its gross margin guidance of 43% to 45% and its GAAP EPS guidance of $7.00 to $11.00, reflecting the dynamic industry environment and ongoing transformation efforts.

Summarized from source with an LLMView Source

Key figures

-9.01%1Y

-33.9%3Y

-20.2%5Y

Performance

36.6%1Y

40.4%3Y

46.0%5Y

Volatility