The Sam Adams parent is getting closer to returning to growth. As of 12:17 p.m. ET, the stock was up 6.1% on the news. The quarterly report was far from stellar, but considering the company's recent struggles, it was enough to please investors. Management said that demand improved during the quarter after a weak start in April, and the company also said gross margin increased 60 basis points to 46%. However, the bottom line still came up short, falling from $4.72 to $4.39, which was well below the consensus ...

The craft brewer reported second-quarter earnings per share of $4.39 per share, which missed the Zacks Consensus Estimates of $4.99 per share and declined 7% year over year. Shares of this Zacks Rank #4 (Sell) company have lost 5.3% in the past three months compared with the industry's decline of 4.3%. Quarter in Detail The company experienced lower-than-targeted distributor inventories as of Jun 29, 2024, which resulted in SAM failing to ship adequate amounts to meet the improving demand in the latter week ...

Goldman Sachs analyst Bonnie Herzog reiterated a Sell rating, while reducing the price target from $210 to $230. RBC Capital Markets analyst Nik Modi maintained a Sector Perform rating, while cutting the price target from $332 to $318. Piper Sandler analyst Michael Lavery reaffirmed an Overweight rating, while slashing the price target from $344 to $325. RBC Capital Markets: "As expected, category pressures were too much to overcome in the near term and resulted in a more muted volume outlook for the year," ...

Boston Beer stock's recent dip (and today's earlier price action) brought it closer to its May 28 five-year low of $254.40. Year to date, SAM is currently down 18.8%. It's worth noting that the stock's 14-day relative strength index (RSI) of 16.3 sits firmly in "oversold" territory, which typically precedes a short-term bounce. The stock's typically quiet options pits are seeming some activity, with the most volume at the August 330 call. In fact, the eight most popular contracts so far are calls. Analysts ...

Boston Beer reported a 6.4% year-over-year drop in shipment volumes and revised volume guidance down for the full year. Net revenue fell 4% year over year due to lower shipment volumes. Rising production costs contributed to net income falling 9.8% to $52.3 million. Management revised down volume guidance for the full year. Overall, the quarter was a disappointing performance with some notable declines. Source: Boston Beer. YOY = Year over year. Boston Beer specializes in producing and selling alcoholic bev ...

It does. Thank you. Michael, I guess pivoting to running the company as an independent company, you talked in the opening, about working to optimize, really, across the Board execution from product development, manufacturing, selling all the way through the allocation of capital. I know you had familiarity with a lot of those things from your time on the Board, but as you settled in to the current role, I guess the question is, where do you think the organization has the most opportunity to improve? And is ...

Over the last four quarters, the company has surpassed consensus EPS estimates two times. Boston Beer shares have lost about 21.3% since the beginning of the year versus the S&P 500's gain of 13.8%. Ahead of this earnings release, the estimate revisions trend for Boston Beer: 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 ...

BOSTON BEER REPORTS SECOND QUARTER FINANCIAL RESULTS BOSTON (July 25, 2024) -- The Boston Beer Company, Inc. (NYSE: SAM), today reported financial results for the second quarter ended June 29, 2024. Key results were: • Depletions decreased 4% and shipments decreased 6.4% • Gross margin of 46.0% up 60 basis points year over year • Diluted income per share of $4.39 • Net revenue of $1.005 billion decreased 0.8% • Net income of $64.9 million, an increase of $15.9 million or 32.3% Capital Structure • Repurchase ...

BOSTON, July 25, 2024 (GLOBE NEWSWIRE) -- The Boston Beer Company, Inc. (NYSE: SAM), today reported financial results for the second quarter ended June 29, 2024. Key results were: Second Quarter 2024 Summary: Depletions decreased 4% and shipments decreased 6.4% Net revenue of $579.1 million decreased 4.0% Gross margin of 46.0% up 60 basis points year over year Net income of $52.3 million, a decrease of $5.7 million or 9.8% Diluted income per share of $4.39 Year-to-date 2024 Summary: Depletions decreased 2% ...

The Boston Beer Company, Inc. (SAM) is scheduled to report second-quarter 2024 results on Jul 25. In the second quarter, the company is anticipated to have registered bottom-line growth from the year-ago quarter's reported figures. The Zacks Consensus Estimate for earnings is pegged at $4.96 per share, suggesting growth of 5.1% from the year-ago quarter's actual. The consensus mark for earnings has declined 2.4% in the past 30 days. For quarterly revenues, the consensus estimate is pegged at $595.2 million, ...