SAM

The Boston Beer Company, Inc. SAM is likely to register declines in its top and bottom lines when it reports second-quarter 2026 results on July 23.The Zacks Consensus Estimate for revenues is pegged at $579.3 million, implying a 1.5% decrease from the prior-year quarter’s reported figure. The consensus mark for earnings has been unchanged in the past 30 days at $4.99 per share. This implies a drop of 8.4% from the year-ago quarter’s actual.In the last reported quarter, the company delivered a negative earnings surprise of 11.4%. SAM has a trailing four-quarter earnings surprise of 8.7%, on average. The Boston Beer Company, Inc. price-eps-surprise | The Boston Beer Company, Inc. Quote Boston Beer’s second-quarter earnings are expected to have faced headwinds from an uncertain macroeconomic environment, with inflation and weak consumer confidence pressuring discretionary spending. This has resulted in soft demand across the beer industry, reflecting a cautious consumer and reduced social activity. Also, structural shifts in consumer behavior are adding to challenges. Trends such as moderation, growing health consciousness and the rising popularity of alternatives like cannabis-infused beverages are gradually reducing alcohol consumption. The impacts of GLP-1 weight-loss drugs and increased engagement in activities have been contributing to fewer drinking occasions.Boston Beer has been witnessing weak depletions and shipment volumes, with continued challenges in the hard seltzer category for a while. The company faces volume pressure from the ongoing weakness in key brands and soft consumer demand trends. The hard seltzer segment remains under pressure, which has been weighing on Truly Hard Seltzer as it faces declining volumes and continued loss of shelf space. Intense competition across flavored malt beverages and tea-based drinks is further straining the shelf space, as retailers streamline assortments and reduce the number of brands they carry.On its last reported quarter’s earnings call, management projected first-half shipments to trend toward the lower end of its full-year outlook for a low-single-digit to mid-single-digit decline, followed by an improved shipment performance in the second half. The expected first-half weakness primarily reflects difficult year-ago comparisons, as SAM shipped ahead of depletions to support innovation launches and build...

US consumer staple companies likely faced another "tricky" quarter, with earnings growth seen impact

Constellation Brands says it has a new playbook for its sluggish beer giants, but on its latest earnings call, analysts pressed for the details and tested management's real confidence in a shaky consumer. With its stock down -21% over the last year and trading near lows, the pressure was on for Constellation Brands (STZ) on its latest earnings call. The central question analysts kept circling was whether the new CEO has a real plan to restart the company’s biggest and most important beer brands or just a new set of buzzwords. The answers revealed a company confident in its strategy but deeply cautious about the economy its customers are living in. What's The Playbook For A Stalled Corona? The most pointed challenge of the day zeroed in on the awkward truth: the company’s growth engines, Modelo Especial and Corona Extra, are sputtering. As one analyst framed it, both brands have been a “bit of a challenge,” and there are real “question marks” around getting them back to growth. This cuts to the core of the investment case; if these brands are stuck, growth in smaller names like Pacifico isn’t enough. The new CEO’s response was a tale of two strategies. For Modelo Especial, the job is to finish scaling the brand by closing remaining gaps in distribution and awareness. For Corona Extra, a fully mature brand, the playbook is different. It’s no longer about getting the name out there, but about driving “saliency, relevance, connecting with consumers in the moment.” Management insisted the brand’s health remains "remarkable" but conceded they need to “dial up the everyday activation switch.” The answer described the destination, not the roadmap, leaving the specific tactics for this new playbook an open question. If The Consumer Is Back, Why Isn't The Guidance Up? The second major test was of management’s confidence. The company reported a solid quarter and noted a “modest reacceleration” in consumer activity as gas prices eased. So why not raise the full-year guidance? This was a direct probe into whether management truly believes the turnaround is durable. The answer was blunt: the environment has “low visibility.” The quarter was a rollercoaster, starting strong in March before a “large spike in gas prices” caused consumers to pull back. The CFO was clear that after a good quarter, the company did not want to change its outlook given the uncertainty around macr...

Boston Beer has been treading water for the past six months, recording a small loss of 3.7% while holding steady at $197.54. The stock also fell short of the S&P 500’s 7.1% gain during that period. Is now the time to buy Boston Beer, or should you be careful about including it in your portfolio? Dive into our full research report to see our analyst team’s opinion, it’s free. We're sitting this one out for now. Here are three reasons you should be careful with SAM and a stock we'd rather own. Examining a company’s long-term performance can provide clues about its quality. Any business can put up a good quarter or two, but many enduring ones grow for years. Boston Beer struggled to consistently generate demand over the last three years as its sales dropped at a 2.1% annual rate. This was below our standards and is a sign of lacking business quality. Forecasted revenues by Wall Street analysts signal a company’s potential. Predictions may not always be accurate, but accelerating growth typically boosts valuation multiples and stock prices while slowing growth does the opposite. Over the next 12 months, sell-side analysts expect Boston Beer’s revenue to stall. While this projection implies its newer products will catalyze better top-line performance, it is still below the sector average. Growth gives us insight into a company’s long-term potential, but how capital-efficient was that growth? A company’s ROIC explains this by showing how much operating profit it makes compared to the money it has raised (debt and equity). Boston Beer historically did a mediocre job investing in profitable growth initiatives. Its five-year average ROIC was 5.7%, somewhat low compared to the best consumer staples companies that consistently pump out 20%+. Boston Beer isn’t a terrible business, but it doesn’t pass our quality test. With its shares trailing the market in recent months, the stock trades at 20.7× forward P/E (or $197.54 per share). This valuation tells us it’s a bit of a market darling with a lot of good news priced in - we think there are better opportunities elsewhere. Let us point you toward an all-weather company that owns household favorite Taco Bell. ONE MORE THING: Top 5 Growth Stocks. The biggest stock winners almost always had one thing in common before they ran. Revenue growing like crazy. Meta. CrowdStrike. Broadcom. Our AI flagged all three. They returned 31...

Image source: The Motley Fool. Oct. 23, 2025, 5 p.m. ET Chairman and CEO — C. Koch Chief Financial Officer — Diego Reynoso C. Koch: Thanks, Mike. I'll begin my remarks this afternoon with an overview of our strategy, operating results and brand updates and then turn the call over to Diego, who will focus on our supply chain and the financial details of our third quarter results, as well as our updated financial outlook for 2025. Immediately, following Diego's comments, we'll open the line for questions. I would like to start by thanking Michael Spillane for his service as CEO and for continuing to provide counsel to me as a member of our Board of Directors. While I've now stepped back into the CEO role, our company priorities remain unchanged. They continue to be innovation, supporting our full portfolio of brands with advertising investment and focused execution and driving margin improvement. I'll personally be particularly focused on our high-impact areas, including our innovation pipeline and ensuring that we are appropriately investing in our brands through both advertising and local end market execution. We've made strong progress on our margin improvement initiatives and to help continue those efforts, Phil Hodges has been named Chief Operating Officer. Phil has 30 years of operations experience in consumer packaged goods at Carlsberg, Mondelez and Kraft Foods, and he has led our supply chain efforts for the last 3 years. His team has delivered strong efficiency improvements in our breweries, which have positively impacted our gross margins. In his new role, Phil will continue to report to me and will focus on continuing to improve execution across all functions and implementing our previously announced margin enhancement initiatives. I'm excited to be back in the CEO seat and to partner with our highly experienced executive leadership team to execute our plans to improve volume trends and create long-term shareholder value. Now turning to the current industry environment. I mentioned on our last call that we were experiencing a challenging macroeconomic environment. And those trends continued into the third quarter. Economic uncertainty that has consumers more tightly managing their budgets as well as pressure on Hispanic consumers continues to impact consumer demand negatively across the overall beer industry. Moderation trends are also having an im...

The Boston Beer Company, Inc. SAM reported lower-than-expected revenues and earnings in first-quarter 2026. Both top and bottom lines also fell year over year. It posted first-quarter adjusted earnings per share (EPS) of $1.64, missing the Zacks Consensus Estimate of $1.85 by 11.4%. Also, the reported number decreased from $2.16 seen in the year-earlier quarter. Net revenues declined 4.4% year over year to $433.9 million and came below the consensus estimate of $437 million by 0.7%. The year-over-year decline was owing to soft volumes that were partly offset by pricing and a favorable mix. Apparently, shares lost more than 1% in the after-hours trading yesterday. This Zacks Rank #3 (Hold) company’s shares have risen 11.1% in the past three months, outperforming the industry’s 3.8% decline. The Boston Beer Company, Inc. price-consensus-eps-surprise-chart | The Boston Beer Company, Inc. Quote Depletions dipped 4% in the quarter, reflecting continued pressure across a few core brands. Decreases in Twisted Tea, Truly, Samuel Adams and Hard Mountain Dew brands were partly offset by growth in Sun Cruiser, Angry Orchard and Dogfish Head brands. Year-to-date depletions through the 17-week period ended April 24, 2026, decreased roughly 4% from the comparable period in 2025. Meanwhile, shipments declined at a higher rate than depletions, reporting a 6.9% decrease versus the year-earlier quarter. Shipment volume for the quarter was about 1.6 million barrels, mainly owing to tough prior-year comparisons as distributors built inventories for Sun Cruiser and Truly Unruly innovation in the first quarter of 2025 and a slightly lower distributor inventory levels led by improvements in the responsiveness of its supply chain to resonate well with demand. Management believes distributor inventory as of March 28, 2026, was at an appropriate level for each of its brands and averaged nearly four and a half weeks on hand versus the five weeks at the end of the year-earlier quarter. SAM reported gross margin of 49.3%, up 100 basis points (bps) from the first quarter of 2025, benefiting from price increases, favorable product mix, procurement savings and enhanced brewery efficiencies. The gain was partly offset by inflationary, commodity and tariff costs. Gross margin also included $1.6 million of shortfall fees and non-cash expense of third-party production pre-payments in total, wh...

Image source: The Motley Fool. Thursday, Apr. 30, 2026 at 5 p.m. ET Founder & Chairman — C. Koch Chief Financial Officer — Diego Reynoso C. Koch: Thanks, Mike. I'll begin my remarks this afternoon with an overview of our strategy and operating results before turning the call over to Diego to discuss our first quarter financial results and our financial outlook for the remainder of 2026. Immediately following Diego's comments, we will open the line for questions. In the first quarter, we were encouraged to see some signs of improvement in the total beer and RTD category, which we estimate was flat in volume compared to a decline of 4% for the full year of 2025. Beyond Beer continues to outperform traditional beer in volume in measured off-premise channels with an increase of about 3% for the quarter compared to traditional beer, which slightly declined. While these trends represent modest industry progress, we continue to anticipate volume headwinds for 2026, given a dynamic macroeconomic environment and evolving geopolitical developments that may impact consumer spending. With respect to the Boston Beer portfolio, we have not yet fully participated in the improvement in category trends. We are encouraged that Twisted Tea and Sun Cruiser together are growing depletions, driven by the strong performance of Sun Cruiser and some sequential improvement in Twisted Tea. Angry Orchard and Dogfish Head have now experienced 4 consecutive quarters of growth. However, Truly remains a meaningful portion of our mix and continues to lose share, and we've also seen some softness in Samuel Adams and Hard Mountain Dew. Our first quarter depletions were down 4%. As we expected, shipments trailed depletions at down 7%, reflecting first quarter 2025 shipments comparisons when distributors built inventory for our Sun Cruiser and Truly Unruly innovations. Additionally, improvements in the responsiveness of our supply chain to meet consumer demand led to moderately lower distributor inventory of 4.5 weeks on hand at the end of the quarter versus 5 weeks on hand in the prior year period. We continue to make strong progress on our margin enhancement initiatives, delivering 49.3% first quarter gross margin, and we're on track to achieve our planned full year 2026 savings. The business is generating strong cash flow, and we have repurchased over $30 million in shares year-to-date. Our...

Boston Beer recorded a $216 million pre-tax litigation charge this quarter that caused a $15.52 negative hit to GAAP EPS; excluding litigation, non-GAAP EPS was $1.64. Management said category trends modestly improved but the company still faces volume pressure—Q1 depletions fell 4% and shipments declined 6.9%—and narrowed 2026 volume guidance to down low- to mid-single digits and full-year non-GAAP EPS to $8.50 to $10.50, citing energy and aluminum inflation. Brand performance diverged: Sun Cruiser is rapidly growing (now a top-five spirits RTD) and Twisted Tea showed sequential improvement with product and marketing tweaks planned, while Truly continues to lose share despite promotional efforts. Interested in The Boston Beer Company, Inc.? Here are five stocks we like better. Tap Into Molson Coors Stock: A Top Beverage Value Play Boston Beer (NYSE:SAM) executives said the company entered 2026 with modestly improving industry trends but continued brand and macro headwinds, as first-quarter depletions declined and a large litigation charge weighed on GAAP results. Founder, CEO and Chairman Jim Koch said the total beer and ready-to-drink (RTD) category showed “some signs of improvement” in the first quarter, which the company estimates was flat in volume compared with a 4% decline for full-year 2025. Koch added that “beyond beer” continued to outperform traditional beer in measured off-premise channels, rising about 3% in volume during the quarter while traditional beer declined slightly. → Meta Posted Its Best Sales Growth Since 2021—So Why Did Shares Fall? Constellation Brands Stock Q1 2025: Crushing Anheuser-Busch? Despite the industry improvement, Koch said Boston Beer “have not yet fully participated” in the better category trends. The company continues to expect “volume headwinds for 2026” given a “dynamic macroeconomic environment and evolving geopolitical developments” that may impact consumer spending. Koch said Twisted Tea and Sun Cruiser together grew depletions, driven by strong Sun Cruiser results and “some sequential improvement” in Twisted Tea. He also said Angry Orchard and Dogfish Head posted four consecutive quarters of growth. However, Koch noted Truly “remains a meaningful portion of our mix and continues to lose share,” and he cited softness in Samuel Hard MTN DEW. → 5 Stocks to Buy in May Before the Next AI Surge Hits You’ll Want in on T...

Boston Beer (SAM) came out with quarterly earnings of $1.64 per share, missing the Zacks Consensus Estimate of $1.85 per share. This compares to earnings of $2.16 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -11.35%. A quarter ago, it was expected that this brewer would post a loss of $2.33 per share when it actually produced a loss of $2.12, delivering a surprise of +9.01%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Boston Beer, which belongs to the Zacks Beverages - Alcohol industry, posted revenues of $433.93 million for the quarter ended March 2026, missing the Zacks Consensus Estimate by 0.66%. This compares to year-ago revenues of $481.36 million. The company has topped consensus revenue estimates just once over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Boston Beer shares have added about 21.2% since the beginning of the year versus the S&P 500's gain of 4.2%. While Boston Beer has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Boston Beer was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks her...

BOSTON (AP) — BOSTON (AP) — Boston Beer Co. (SAM) on Thursday reported a loss of $145.3 million in its first quarter. The Boston-based company said it had a loss of $13.88 per share. Earnings, adjusted for non-recurring costs, came to $1.64 per share. The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.85 per share. The brewer posted revenue of $461.6 million in the period. Its adjusted revenue was $433.9 million, also missing Street forecasts. Four analysts surveyed by Zacks expected $436.8 million. Boston Beer expects full-year earnings in the range of $8.50 to $10.50 per share. _____ This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SAM at https://www.zacks.com/ap/SAM

Management attributes a 4% depletion decline to a shift in the hard tea category, where volume is migrating from malt-based Twisted Tea to spirit-based entrants like Sun Cruiser. Sun Cruiser has emerged as a top 5 spirits RTD and the leading brand in on-premise spirits tea, serving as a margin-accretive offset to softness in legacy brands. Operational improvements allowed the company to produce 95% of domestic volume internally in Q1, up from 85% in the prior year, driving brewery efficiencies. Twisted Tea is undergoing a strategic 'tweak' rather than a reset, focusing on price-pack architecture and high-ABV innovation like Twisted Tea Extreme to regain velocity. The company successfully increased its total portfolio shelf space during spring resets, primarily driven by Sun Cruiser expansion and new Twisted Tea variants. Management notes that while the total beer and RTD category showed modest improvement (flat volume in 2026 vs. a 4% decline in 2025), macroeconomic headwinds continue to pressure consumer spending. Volume guidance was narrowed to a range of down low-single digits to mid-single digits, reflecting updated volume and energy cost projections while monitoring the upcoming summer selling season. EPS guidance was narrowed to $8.50–$10.50 from a prior range of $8.50–$11 to account for rising energy and aluminum costs, as the company does not hedge commodities. Management maintains flexibility to reduce advertising spend toward the lower end of the $20 million to $40 million increase range if macroeconomic pressures intensify. A new 'revenue management' productivity bucket is being established in 2026, with meaningful margin contributions expected to begin in 2027. The company expects first-half shipments to trail depletions due to high prior-year inventory builds and a second-half weighting for 2026 innovation launches. A $216 million pretax litigation expense was recorded in Q1 related to a supplier contract dispute; management intends to appeal and does not expect it to impact operating plans. Full-year tariff costs are estimated at $20 million to $30 million, a significant increase from $11 million in 2025 due to a full year of charges. Supply chain responsiveness improvements led to lower distributor inventory levels (4.5 weeks vs. 5 weeks), which created a headwind for Q1 shipment comparisons. Management flagged potential risks from the energy...

This article first appeared on GuruFocus. Release Date: April 30, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Boston Beer Co Inc (NYSE:SAM) reported a 49.3% gross margin for the first quarter, showing strong progress in margin enhancement initiatives. Twisted Tea and Sun Cruiser brands are experiencing growth, with Sun Cruiser becoming a top 5 spirits RTD and the fastest-growing brand in its category. The company has repurchased over $30 million in shares year-to-date, indicating strong cash flow and shareholder value focus. Angry Orchard and Dogfish Head brands have experienced four consecutive quarters of growth. Boston Beer Co Inc (NYSE:SAM) is expanding its advertising and partnerships, including a multi-year USGA partnership for Sun Cruiser and a sponsorship with the US men's soccer team for Truly. Truly brand continues to lose market share, impacting overall performance. First quarter depletions were down 4%, and shipments decreased by 6.9%, reflecting challenges in certain product lines. The company faces volume headwinds for 2026 due to a dynamic macroeconomic environment and evolving geopolitical developments. Revenue for the quarter decreased by 4.4% due to lower volume, despite price increases and favorable product mix. Boston Beer Co Inc (NYSE:SAM) recorded $216 million in pre-tax litigation expenses related to a supplier contract dispute, impacting financial results. Warning! GuruFocus has detected 3 Warning Signs with GDYN. Is SAM fairly valued? Test your thesis with our free DCF calculator. Q: Jim, can you discuss the outlook for Twisted Tea given its recent performance and the interventions made last year? Do you think a more extensive reset is needed? A: Jim Cook, CEO: I don't think a drastic reset is needed, but some adjustments are necessary. The rise of vodka-based teas has impacted Twisted Tea's volume. We've lost some display space to new entrants, but overall, our hard tea volume is up due to Sun Cruiser. We're making pricing adjustments, gaining shelf space, and increasing advertising to support Twisted Tea. We're also introducing new pack sizes to offer better pricing options. Q: Diego, can you explain the drivers behind your gross margin performance and how you're managing cost pressures, especially with aluminum prices rising? A: Diego Reynoso, CFO: Our margin agenda aim...