The Boston Beer Company Inc. (SAM) is positioned to benefit from its strong portfolio of globally recognized brands, the progress of its Beyond Beer strategy, the premiumization of the beer industry and robust trends for its twisted tea brand. Additionally, we expect Boston Beer's continued focus on pricing, product innovation, and growth of non-beer categories alongside brand development to boost its operational performance and position in the market. Benefits from these were well demonstrated in the compa ...

Full-year 2024 reported gross margins are expected to be between 43% and 45%. We expect commodity inflation in 2024, but at a lower rate than 2023, primarily driven by sweeteners and flavorings. We continue to expect to cover commodity inflation dollars with pricing, but do expect some additional margin headwinds from higher labor costs in our breweries. Where we land within the range of our guidance will be somewhat dependent on the mix of products sold. During the 13-week period ending March 30, 2024, and ...

Investor Relations Contact: Media Contact: Jennifer Larson Dave DeCecco (617) 368-5152 (914) 261-6572 jennifer.larson@bostonbeer.com dave.dececco@bostonbeer.com Exhibit 99 BOSTON BEER REPORTS FIRST QUARTER FINANCIAL RESULTS BOSTON (April 25, 2024) -- The Boston Beer Company, Inc. (NYSE: SAM), today reported financial results for the first quarter ended March 30, 2024. Key results were: First Quarter 2024 Summary: Capital Structure "We were pleased to see flat depletion trends in the first quarter and to del ...

The Boston Beer Company, Inc. (NYSE:SAM) Q4 2023 Earnings Conference Call February 27, 2024 5:00 PM ET Company Participants Michael Andrews - Associate General Counsel and Corporate Secretary James Koch - Founder and Chairman David Burwick - President and Chief Executive Officer Diego Reynoso - Chief Financial Officer and Treasurer Conference Call Participants Nik Modi - RBC Kaumil Gajrawala - Jefferies Stephen Powers - Deutsche Bank Robert Ottenstein - Evercore ISI Eric Serotta - Morgan Stanley Brett Coope ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION THE BOSTON BEER COMPANY, INC. Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number: 1-14092 | | Trading | Name of each exchange | | --- | --- | --- | | Title of each ...

Investor Relations Contact: Media Contact: Jennifer Larson Dave DeCecco (617) 368-5152 (914) 261-6572 jennifer.larson@bostonbeer.com dave.dececco@bostonbeer.com BOSTON (February 27, 2024) -- The Boston Beer Company, Inc. (NYSE: SAM), today reported financial results for its fourth quarter and full fiscal year 2023 that ended December 30, 2023. The 2023 fiscal fourth quarter included 13 weeks and is compared to the 2022 fiscal fourth quarter, which included 14 weeks. The 2023 full fiscal year included 52 wee ...

Financial Data and Key Metrics Changes - The company reported a third quarter depletion decrease of 6% on a fiscal calendar basis and 3% on a comparable week's basis, which improved from a decrease of 7% in the second quarter [14][60] - Gross margin for the third quarter was over 45%, consistent for two consecutive quarters, with a reported net income of $45.3 million or $3.70 per diluted share [16][62] - General and administrative expenses increased by $4.9 million or 13.2% from the third quarter of 2022, primarily due to higher salaries and consulting costs [32] Business Line Data and Key Metrics Changes - Twisted Tea experienced 34% dollar sales growth, adding $3.2 share points and expanding its overall share to 29% of total FMB dollar sales in measured on-premise channels [17][43] - Truly's dollar sales declined 26% in the third quarter, with a loss of $3 share points, although the decline was less severe than in the previous quarter [50][87] - Sam Adams' total share across all channels was slightly up in the third quarter, supported by new campaigns and seasonal products [25] Market Data and Key Metrics Changes - The Beyond Beer category is expected to grow faster than the traditional beer market over the next several years, with the company planning to invest in Twisted Tea and Truly brands [9] - Hard seltzers have seen a decrease in shelf space from 11% to about 8%, while RTDs have increased by 1 to 2.5 points [3] Company Strategy and Development Direction - The company aims to sustain Twisted Tea's growth while improving Truly's volume trends and enhancing supply chain performance to improve gross margins [45] - There is a focus on innovation within the Beyond Beer categories, with new products like Twisted Tea Extreme being tested in select markets [20][54] - The company is modernizing its supply chain and targeting procurement savings to improve margins [26][56] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about the operating environment, noting that the current demand for beer may be weaker than in previous years [75] - The company expects to see continued improvements in depletion trends, with a narrowing of full-year guidance reflecting a more conservative outlook [33][87] - There is confidence in the long-term growth potential of the diversified beverage portfolio, with expectations for improved performance in 2024 [57][135] Other Important Information - The company repurchased 280,000 shares at a cost of $69 million, with approximately $290 million remaining on the share repurchase authorization [36][89] - The full-year effective tax rate is estimated to be approximately 28%, with updated non-GAAP earnings per share guidance of $7 to $9 [34] Q&A Session Summary Question: What is the company's approach to SKU replacement? - The company is replacing less productive SKUs with new ones that are expected to perform better, maintaining shelf space while focusing on productivity [67] Question: How are margins performing in the third quarter? - Margins were in line with expectations, driven by waste reduction and procurement savings [71] Question: What is the outlook for demand and pricing in the current environment? - The company is being prudent with pricing strategies, expecting a lighter pricing environment in the fourth quarter [76] Question: What is the split between third-party manufacturing and internal production? - The company aims to keep internal production around 90% to 100%, increasing from 65% to 70% internal production this year [78] Question: How does the company view the performance of Truly? - Management is optimistic about the changes made to Truly, with gradual improvements expected in the coming quarters [49][135]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 1-14092 THE BOSTON BEER COMPANY, INC. (Exact name of registrant as specified in its charter) MASSACHUSETTS 04- ...

Thank you. Good afternoon, and welcome. This is Mike Andrews, Associate General Counsel and Corporate Secretary of The Boston Beer Company. I'm pleased to kick off our 2023 second quarter earnings call. Joining the call from Boston Beer are Jim Koch, Founder and Chairman; Dave Burwick, our CEO and Matt Murphy, our Chief Accounting Officer and Interim CFO. Greetings, and welcome to The Boston Beer Company Second Quarter 2023 Earnings Call. At this time, all participants are in a listen only mode. A brief que ...

Okay. ThatÂ's helpful. And I might be pushing it, but just in the context of that for your guidance, remind us what your expectations are for Truly? If I remember, your guidance, I thought implied continued share loss, is that correct? And I guess you guys havenÂ't really talked about your expectations for the Hard Seltzer category or if in fact it still is 10% to 15% this year. So, any help there would help. Dave Burwick Okay. Yes. And I think itÂ's certainly that survey. Bonnie Herzog ThatÂ's it. Dave Bur ...