Investing.com - Financial Markets Worldwide
🤑 It doesn’t get more affordable. Grab this 60% OFF Black Friday offer before it disappears…CLAIM SALE

Boston Beer Shares Down 3% on Q1 Earnings Miss

Published 04/21/2022, 01:09 PM
Updated 04/21/2022, 05:41 PM
© Reuters. Boston Beer Shares Down 3% on Q1 Earnings Miss
SAM
-

Boston Beer Co. (NYSE:SAM) shares were trading more than 3% lower after-hours following the company’s reported Q1 results, with earnings per share coming in at ($0.16), significantly missing the consensus estimate of $1.97. Revenue declined 21.1% year-over-year to $430.1 million, compared to the consensus estimate of $444.77 million.

Depletions in Q1 decreased 7% year-over-year, reflecting decreases in Truly Hard Seltzer, Angry Orchard, and Dogfish Head brands, partially offset by increases in its Twisted Tea brand, while Samuel Adams brand depletion volume was nearly the same.

The company provided its full 2022-year outlook, expecting EPS to range from $11.00 to $16.00, compared to the consensus estimate of $13.85. Depletions and shipments are expected to increase by 4%-10%.

Shares of SAM are down 32% year-to-date.

By Davit Kirakosyan

Latest comments

Install Our App
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.