Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

Boston Beer amends production deal, cuts guidance

Published 12/20/2024, 04:35 PM
© Reuters
SAM
-

Investing.com -- Boston Beer Company Inc (NYSE:SAM) cut its full-year GAAP earnings per share guidance to $3.80-$5.80, down from $5.50-$7.50.  

The company said it has amended its production agreement with Rauch North America to better align with its future capacity needs. The revised deal enhances production flexibility and grants Boston Beer improved termination rights.

As part of the agreement, Boston Beer will make a $26 million cash payment to Rauch by December 23, resulting in a pre-tax contract settlement expense of $26 million, or $1.70 per diluted share after tax, in the fourth quarter of 2024.

Non-GAAP EPS guidance remains unchanged at $8.00-$10.00.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.