Welcome to our dedicated page for Boston Beer news (Ticker: SAM), a resource for investors and traders seeking the latest updates and insights on Boston Beer stock.
The Boston Beer Company reports developments across a U.S. alcoholic-beverage portfolio that includes Samuel Adams, Twisted Tea, Truly, Dogfish Head, Sun Cruiser and Angry Orchard. News commonly covers craft beer, hard iced tea, hard seltzer, hard cider, ready-to-drink cocktails and flavored malt beverages, including seasonal releases, variety packs, collaborations and packaging innovations.
Company updates also include quarterly financial results, depletions and shipment trends, gross margin drivers, brand investment, share repurchase activity and litigation-related financial effects. Boston Beer produces beverages through a mix of company-owned capacity and contract brewing arrangements and sells through the distributor system that serves retailers and on-premise accounts.
The Boston Beer Company (NYSE: SAM) reported a challenging first quarter of 2022, with a 21.1% decrease in net revenue at $430.1 million, driven by a 25.1% drop in shipments. First quarter gross margin fell to 40.2%, down from 45.8% in 2021. The company also recorded a net loss of $2.0 million or $0.16 per share, contrasting with a profit of $65.6 million a year prior. Full-year estimates suggest depletions will increase 4% to 10% as supply chain issues improve.
Boston Beer Company (NYSE: SAM) announced Q4 and full-year 2021 results, reporting a net loss of $51.8 million, or $4.22 per diluted share, driven by a significant shipment decline of 24.5% and a 15% increase in depletions. For the full year, net revenue rose by 18.5% to $2.058 billion, but net income decreased by $177.4 million to $14.6 million, mainly due to $196.4 million in direct and indirect costs associated with slowing hard seltzer growth. The company anticipates a 4-10% increase in depletions and shipments for 2022, with guidance for earnings per diluted share between $11.00 and $16.00.
The Boston Beer Company (NYSE: SAM) reported Q3 2021 results with net revenue of $561.6 million, up 14% year-over-year, but faced a net loss of $58.4 million, driven by $133 million in costs due to slower hard seltzer growth. Year-to-date, the company saw revenue of $1.71 billion, a 34% increase. Despite gains in depletions and shipments (24% and 29.7% increases respectively), the hard seltzer category's unexpected slowdown significantly impacted performance. Guidance for 2021 projects earnings per diluted share between $2.00 and $6.00.
Deckers Brands (NYSE: DECK) has appointed David A. Burwick to its Board of Directors, replacing Brian A. Spaly, who opted out of reelection at the 2021 Annual Meeting. Burwick brings extensive experience from leadership roles at The Boston Beer Company and Peet's Coffee & Tea. His expertise in brand marketing and consumer products is expected to enhance Deckers' strategy for capturing market share. The management expressed gratitude to Spaly for his contributions since 2018.
The Boston Beer Company (NYSE: SAM) announced the withdrawal of its 2021 financial guidance due to a significant decline in hard seltzer market growth, forecasting over 100 million fewer cases sold than previously expected. The company anticipates incurring inventory write-offs and shortfall fees, leading to projected earnings per diluted share below the earlier estimate of $18.00 to $22.00. The next earnings call is scheduled for October 21, 2021, where further updates will be provided.
The Boston Beer Company announced the launch of Bevy Long Drink, a new beverage inspired by Finland's national cocktail, set to hit shelves in early November. Available in Sparkling Citrus Refresher and Sparkling Berry Refresher flavors, each drink contains 5.8% ABV and features a blend of citrus flavors and wild juniper berries. Bevy Long Drink will be the first Long Drink inspired beverage available in the U.S. without spirits, aiming to deliver refreshing flavor without gin. The launch continues Boston Beer’s commitment to innovation in the beverage industry.
The Boston Beer Company (NYSE: SAM) and PepsiCo announced a collaboration to produce HARD MTN DEW, a new alcoholic beverage featuring a 5% ABV targeting adults of legal drinking age. The partnership combines Boston Beer’s expertise in brewing and PepsiCo's iconic brand to meet evolving consumer tastes. The beverage will launch in early 2022, with both companies aiming to bring innovative offerings to the market. This venture reflects their commitment to enhancing consumer experiences and addressing current trends in the beverage industry.
The Boston Beer Company (NYSE: SAM) reported Q2 2021 net revenue of $602.8 million, a 33.3% increase year-over-year. Net income was $59.2 million, down 1.6%, while diluted earnings per share were $4.75, a decrease of 2.7%. Depletions rose 24% and shipments grew by 27.4%. While overall performance was strong, the company has lowered its full-year depletion and shipment growth forecasts to 25-40%. Advertising expenses soared by over 61%, impacting margins. The company noted challenges in the hard seltzer market affecting inventory and production plans.
Beam Suntory and Boston Beer Company announced a long-term strategic partnership to expand their iconic brands into fast-growing beverage alcohol segments. This collaboration aims to launch Sauza tequila into ready-to-drink beverages and Truly Hard Seltzer into bottled spirits by mid-2022, leveraging each company's expertise and distribution strengths. The partnership enhances Boston Beer’s portfolio, which includes Samuel Adams and Truly Hard Seltzer, while Beam Suntory aims to grow its RTD business in the U.S. market.
The Boston Beer Company has announced the establishment of a subsidiary focused on research and innovation in non-alcoholic cannabis beverages, based in Canada. This move aims to leverage the company's strong reputation and experience in beverage innovation as regulations surrounding cannabis evolve. Industry veteran Paul Weaver has been appointed to lead this initiative, emphasizing the importance of quality and craftsmanship in product development. This step signifies Boston Beer's commitment to exploring new market opportunities in the cannabis sector.