Boston Beer(US:SAM)2025-07-24 20:28Financial Performance - Net revenue for Q2 2025 was $587.9 million, an increase of 1.5% year-over-year [3]. - Year-to-date revenue reached $1.042 billion, a 3.6% increase compared to the same period in 2024 [10]. - Revenue for the thirteen weeks ended June 28, 2025, was $625,425,000, an increase from $614,216,000 for the same period in 2024, representing a growth of 1.9% [25]. - Net income for Q2 2025 was $60.4 million, reflecting a 15.5% increase year-over-year [3]. - Net income for the twenty-six weeks ended June 28, 2025, was $84,845,000, compared to $64,936,000 for the same period in 2024, reflecting a year-over-year increase of 30.7% [25]. - Comprehensive income for the twenty-six weeks ended June 28, 2025, was $85,239,000, compared to $64,715,000 for the same period in 2024, indicating an increase of 31.7% [25]. Margins and Guidance - Gross margin improved to 49.8%, up 380 basis points from the previous year [3]. - Gross margin guidance for full-year 2025 has been updated to 46% to 47.3%, up from the prior estimate of 44% to 46.5% [20]. - Gross profit for the thirteen weeks ended June 28, 2025, was $292,518,000, up from $266,458,000 in the prior year, indicating a growth of 9.8% [25]. - Operating income for the twenty-six weeks ended June 28, 2025, was $115,845,000, compared to $86,168,000 for the same period in 2024, marking an increase of 34.5% [25]. Assets and Liabilities - Total current assets increased to $466,500,000 as of June 28, 2025, from $417,291,000 as of December 28, 2024, a rise of 11.8% [27]. - Cash and cash equivalents at the end of the period were $212,432,000, slightly up from $211,819,000 at the beginning of the period [29]. - Total liabilities increased to $355,866,000 as of June 28, 2025, from $333,831,000 as of December 28, 2024, reflecting a growth of 6.6% [27]. Shareholder Actions - The company repurchased $110.5 million in shares year-to-date as of July 18, 2025 [17]. - The weighted-average number of common shares – diluted for the twenty-six weeks ended June 28, 2025, was 11,163,000, compared to 11,971,000 for the same period in 2024 [25]. Market Trends and Expectations - Depletions decreased by 5% in Q2 2025, with shipment volume down 0.8% to approximately 2.1 million barrels [4]. - The company expects full-year 2025 depletions and shipments to decline in the high single digits [20]. - The effective tax rate for Q2 2025 was 28.1%, slightly down from 28.6% in the prior year [9]. - The company anticipates a negative impact from tariffs of $0.96 to $1.28 per diluted share for full-year 2025 [21]. - Advertising, promotional, and selling expenses for the thirteen weeks ended June 28, 2025, were $159,713,000, an increase from $144,224,000 in the same period last year, representing a rise of 10.7% [25].