Boston Beer Inc

Latest Results (07.10.2025):

Boston Beer Inc. reported its second quarter of 2025 financial results, showcasing modest revenue growth, significant improvements in gross margin, and a notable increase in net income. Despite a decline in depletions and shipments, the company maintained strong financial performance through strategic pricing and operational efficiencies.

Revenue Growth

Net revenue for the second quarter of 2025 reached $587.9 million, marking a 1.5% increase compared to the same period last year. This growth was driven by increased pricing and a favorable product mix, partially offset by lower shipment volumes.

Enhanced Gross Margin

The gross margin significantly improved to 49.8%, up 380 basis points year over year. This enhancement was primarily due to improved brewery efficiencies, procurement savings, price increases, and an optimized product mix, despite some pressures from inflationary and tariff costs.

Increased Net Income

Net income for Q2 2025 was $60.4 million, reflecting a 15.5% year-over-year increase of $8.1 million. Additionally, diluted income per share rose by 24.1% to $5.45, highlighting the company's strong profitability.

Capital Structure Strength

Boston Beer Inc. ended the second quarter with $212.4 million in cash and no outstanding debt. The company also repurchased $110.5 million in shares between December 30, 2024, and July 18, 2025, demonstrating confidence in its financial stability and commitment to shareholder value.

Year-to-Date Performance

For the year-to-date of 2025, net revenue increased by 3.6% to $1.042 billion, and gross margin rose to 49.1%, up 410 basis points from the previous year. Net income stood at $84.8 million, a 30.7% increase, while diluted income per share surged by 40.1% to $7.58.