The Boston Beer Company, Inc. - $SAM STOCK NEWS

The Duckhorn Portfolio (NYSE: NAPA) has appointed Dave Burwick to its Board of Directors, effective May 21, 2024. Burwick, who brings over 30 years of experience in the beverage industry, recently retired as President and CEO of The Boston Beer Company (NYSE: SAM). He will chair the Nominating and Corporate Governance Committee and serve on the Audit Committee. Burwick's extensive background includes leadership roles at Peet's Coffee & Tea, WW International, and PepsiCo. Both Duckhorn's leadership and Burwick emphasize the potential for significant growth and value creation. Burwick also holds an MBA from Harvard Business School and is a board member at Deckers Outdoor

The Boston Beer Company has announced the launch of its new product, Samuel Adams American Light, a light craft lager. This new beer features a 4.2% ABV and only 115 calories, designed to offer a crisp, refreshing taste without compromising on flavor. American Light will be available this summer in 15 markets, including states like Connecticut, Florida, and Texas, and cities like Pittsburgh and Washington, D.C. The company plans for national distribution by March 2025. The beer will be offered in 12 oz. can six-packs, 12-packs, and on draft in select locations.

Dogfish Head Cocktails expands its lineup with the addition of a new Strawberry Lime Tequila Margarita, boasting a 12.0% ABV. The brand's RTD cocktails feature real spirits and fruit juices for a delicious summer experience. Dogfish Head introduces a unique tattoo giveaway event to celebrate the launch. The company's commitment to quality and innovation shines through its diverse portfolio of award-winning cocktails.

Dogfish Head Craft Brewery celebrates '120 Day' by announcing the return of its fan-favorite 120 Minute IPA and unveiling new beer packaging artwork. The updated designs feature brighter graphics, unique illustrations, and an enlarged 'shark-and-shield' logo. Sam Calagione, the Founder & Brewer, expresses excitement over the new look, emphasizing the brand's nautical roots, flavor profiles, and iconic logo. The 120 Minute IPA, known for its high hop content and 15.5% ABV, is now available nationwide. The new packaging aims to enhance shelf visibility and provide clearer flavor expectations for consumers.

Samuel Adams has entered a three-year partnership with the Pan-Mass Challenge (PMC) as the official beer and non-alcoholic beer provider. The sponsorship includes offering a variety of beer options at the event, supporting cancer research and treatment at Dana-Farber Cancer Institute. The PMC, a renowned athletic fundraiser, is close to reaching $1 billion in lifetime fundraising. The partnership aims to celebrate the dedication of participants and support the important cause of eradicating cancer.

Boston Beer Company, Inc. (NYSE: SAM) reported Q1 2024 results with flat depletions, 0.9% shipment increase, $426.1M net revenue, 43.7% gross margin, $12.6M net income, $1.04 EPS. Ended Q1 with $205.4M cash, repurchased $65M in shares. CEO optimistic about 2024 volume and EPS guidance. Depletions estimate down 2% year-to-date. Full-year 2024 projections unchanged except for effective tax rate increase. Company's cash balance, operating cash flows, and credit line deemed sufficient for future needs. Q1 saw decreased advertising expenses but increased general and administrative expenses. Effective tax rate higher at 33.0% compared to 27.8% in the prior year. Company repurchased $65M in shares year-to-date, remaining $201.5M on buyback limit. Full-year 2024 estimates include gross margin impact of shortfall fees and production pre-payments, with seasonal business fluctuations noted.

TeaPot, the cannabis-infused iced tea brand from The Boston Beer Company, introduces its new Blackberry Rooibos style, a low-dose cannabis beverage designed for evening relaxation. The beverage is non-caffeinated, low in sugar, and contains 5mg of THC per 355 mL can, catering to consumers seeking a calming experience.

Jim Beam introduces four new varietals of Ready-To-Drink beverages, Jim Beam Kentucky Coolers, in collaboration with The Boston Beer Company. The new flavors include Orange Crush, Peach Crush, Blueberry Lemonade, and Strawberry Lemonade, offering a refreshing and light drinking experience. These malt-based beverages aim to bring people together over delicious flavors and are now available in a convenient 12-pack format nationwide.

Twisted Tea Hard Iced Tea introduces Twisted Tea Cheater Pants, a unique innovation providing golfers with an extra ball in their pants for a second chance on the course. Priced at $18.00 per pair, these -edition pants are available for purchase on the Tea Store. The pants feature a hidden magnet in a special pocket that releases the extra ball through a secret hole down the pant leg onto the green, allowing golfers to discreetly drop the ball wherever needed.