Earnings ·
Boston Beer reports Q3 net revenue of $520.1M, raises full-year gross margin and EPS guidance
SAMBoston Beer Co Inc
The Boston Beer Company reported third-quarter net revenue of $520.1 million, a 3.2% decline year over year, driven by a 4.9% drop in shipment volume across its core brands. GAAP diluted earnings per share were $4.21, including $0.16 per share in non-recurring litigation expenses related to a supplier dispute. The company raised its full-year gross margin guidance to 49%-50% and adjusted its non-GAAP EPS outlook upward to $9.00-$10.50 from the previous range of $8.50-$10.50, citing improved product mix and procurement savings that offset higher freight costs. Year-to-date net revenue fell 3.6% to $1.522 billion as the company navigates challenging consumer demand. The Boston Beer Company is a leading craft brewer in the United States known for brands including Samuel Adams, Truly Hard Seltzer, and Angry Orchard.