Boston, March 02, 2026 (GLOBE NEWSWIRE) -- The Boston Beer Company is expanding its 2025 innovation Sinless Vodka Cocktails into additional markets this spring, bringing even more drinkers this full-flavored, spirits-based cocktail with zero sugar, zero carbs, and zero compromise. Crafted for guilt-free good times, Sinless rolls into 34 states with a bold new look and personality that delivers on drinkers’ expectations. Sinless Vodka Cocktails Takes the Guilt Out of Good Times Sinless Vodka Cocktails are m ...

Financial Data and Key Metrics Changes - In 2025, the company reported a revenue decrease of 2.4% year-over-year, driven by a 4.7% decline in shipments, although there was a positive price and mix contribution of 2.3 percentage points [23][24] - Gross margin expanded by 410 basis points to 48.5%, the highest since 2019, with an adjusted gross margin of 50% excluding certain costs [24] - Earnings per share (EPS) increased by 4.7% year-over-year to $9.89, despite a $61 million increase in advertising spend [24] Business Line Data and Key Metrics Changes - Depletions decreased by 6% in Q4 2025, with significant declines in Twisted Tea, Truly Hard Seltzer, and Samuel Adams, partially offset by growth in Sun Cruiser, Angry Orchard, and Dogfish Head [24][25] - Twisted Tea experienced a 6% decline in dollar sales for the full year 2025, while Sun Cruiser grew volumes over 300% from 2024 to 2025 [11][15] Market Data and Key Metrics Changes - The overall beer industry saw a 4% decline in depletions, aligning with the company's performance [5] - The beyond beer category, which includes hard tea and hard seltzers, has doubled in volume from 2019 to 2025, now representing 9% of total U.S. alcohol consumption [7] Company Strategy and Development Direction - The company aims to focus on brand investment, innovation, and local market execution to drive volume improvement and maintain market share [8][9] - Plans for 2026 include scaling Sun Cruiser, expanding distribution of Sinless Vodka Cocktails, and increasing advertising investments [9][10] Management's Comments on Operating Environment and Future Outlook - Management anticipates continued industry volume headwinds in 2026 due to economic uncertainty and moderation trends affecting demand [6][8] - The company remains optimistic about long-term growth opportunities in the beyond beer category, despite current challenges [6][7] Other Important Information - The company repurchased $200 million in shares in 2025 and ended the year with $223 million in cash and no debt [23][34] - Capital expenditures for 2026 are expected to be between $70 million and $90 million, primarily for brewery improvements [34] Q&A Session Summary Question: Can you discuss the gross margin outlook and inflation impacts? - Management noted that they do not hedge aluminum and expect some inflation, but not as severe as in the past [38][39] Question: What is the perspective on Twisted Tea's improvement? - Management indicated that pricing adjustments and local market support have contributed to Twisted Tea's better performance [46][48] Question: How is shelf space being managed in the current environment? - Management acknowledged some erosion of beer shelf space to RTDs but noted that overall beer shelf space remains stable [50][51] Question: What are the plans for Sun Cruiser in 2026? - Management expressed confidence in Sun Cruiser's growth and plans to increase distribution and marketing support [55][58] Question: Can you elaborate on the tariff impacts for 2026? - Management outlined that aluminum and other imports are significant contributors to tariff costs, with expectations for a phased impact throughout the year [72][73]

The Boston Beer Company (NYSE:SAM) Q4 2025 Earnings call February 24, 2026 05:00 PM ET Company ParticipantsBonnie Herzog - Managing DirectorDara Mohsenian - Managing DirectorDiego Reynoso - CFOJim Koch - Founder and ChairmanKaumil Gajrawala - Managing DirectorMichael Lavery - Managing DirectorMike Andrews - Associate General Counsel and Corporate SecretaryRobert Ottenstein - Managing DirectorConference Call ParticipantsFilippo Falorni - Equity Research AnalystNadine Sarwat - Equity Research AnalystPeter Gro ...