Boston Beer Stock Price, News & Analysis

Boston Beer Company (NYSE: SAM) reported its Q4 2024 financial results with mixed performance. Q4 net revenue increased 2.2% to $402.3 million, while depletions were flat and shipments decreased 0.5%. The quarter saw a GAAP diluted loss per share of $3.38, including a $1.70 per share contract settlement expense.

For full-year 2024, net revenue grew marginally by 0.2% to $2.01 billion, with depletions down 2% and shipments declining 2.4%. The company achieved a gross margin of 44.4%, up 200 basis points year-over-year. Full-year GAAP earnings were $5.06 per share, while non-GAAP earnings reached $9.43 per share.

Notable operational highlights include:

• Generated $249 million in operating cash flow for 2024
• Ended with $212 million in cash and no debt
• Repurchased $239 million in shares during 2024
• Recorded a $42.6 million non-cash impairment charge primarily for Dogfish Head brand

Twisted Tea Hard Iced Tea, the leading hard iced tea brand, has expanded its partnership with Top Rank Boxing as the Official Malt Beverage Partner for 2025. Building upon their 2024 collaboration, the enhanced partnership includes increased in-arena presence, local activations, and branded content.

The partnership features Twisted Tea as the 'Official Walkout Partner' with fighter entrance presentations, exclusive fan experiences, and custom digital content. The collaboration includes four shoulder programming shows highlighting 'Greatest Hits' of Top Rank fighters. The expanded partnership launches with the WBO lightweight championship bout between Denys Berinchyk and Keyshawn Davis at Madison Square Garden on February 14, 2025.

Dogfish Head Craft Brewery has launched a new collaborative beer with Grateful Dead, called Grateful Dead Juicy Pale Ale. The beer, which marks both Dogfish Head's 30th anniversary and Grateful Dead's 60th anniversary in 2025, will be available nationwide year-round in 6pk/12oz cans and on draft.

The new pale ale features 5.3% ABV and is brewed with Kernza® perennial grains, granola, and El Dorado and Azacca hops, creating tropical pineapple, mango, and passion fruit notes. This launch continues the partnership between Dogfish Head and Grateful Dead that began in 2013 with American Beauty, followed by various releases through 2019.

To celebrate the launch, a special event featuring Grateful Dead cover band Bushwick's Dead will be held at Brooklyn Bowl's New York location on March 12, 2025.

Boston Beer Company (SAM) is making a strategic move with its Sun Cruiser Iced Tea & Vodka brand by airing a regional Big Game commercial in 10 key markets, including Boston, Denver, and Miami. The 15-second spot, titled 'Let the Good Times Cruise,' represents the brand's biggest marketing initiative to date, aiming to establish Sun Cruiser as America's leading premium hard tea brand.

The company is expanding its portfolio with the launch of Sun Cruiser Lemonade & Vodka, featuring a variety pack of four flavors at 4.5% ABV. To support national expansion in 2025, SAM is implementing comprehensive growth initiatives, including national TV and digital advertising, a dedicated sales team, and an expanded brand ambassador program.

Dogfish Head Craft Brewery launches 30 Minute Light IPA, a new addition to its iconic 'Minute Series' and its first since 2011. This new light IPA (4.0% ABV) contains only 95 calories and 3.6g carbs per 12oz serving while maintaining the bold, hoppy character of a world-class IPA.

To celebrate the launch, Dogfish Head is embracing 'Quitter's Day' (the second Friday in January) when approximately 80% of people abandon their New Year's resolutions. The brewery is offering rewards to those who give up on their resolutions early, including $30 in beer money for the top 300 entries and participation medals. A recent survey revealed that only 1 in 3 Americans completed their 2024 resolutions, with lack of motivation (29%) and time (24%) being the main factors for quitting.

Additionally, Dogfish Head partnered with Smith Island Baking Company to create a special 30 Minute Light IPA-infused cake, available nationwide through Goldbelly starting January 10.

Samuel Adams is offering two key tips for Dry January participants: try their Just the Haze Non-Alcoholic IPA and utilize leftover alcoholic beer in cooking recipes. The award-winning Just the Haze, known for its tropical fruit aromas and smooth hoppy finish, has garnered multiple accolades including Gold at the 2024 World Beer Awards and Silver at the 2023 World Beer Cup Awards.

The company has released the Our American Dream Cookbook, featuring over 100 recipes from 80 small business owners, including beer-infused dishes like Vegan Onion Soup, BBQ Pizza, and Beer Can Chicken. Market data shows significant growth in the non-alcoholic beer segment, with NA Beer Volume growing +49% compared to three years ago, while total Beer declined by 12% in the same period.

Boston Beer Company (NYSE: SAM) has amended its production agreement with Rauch North America Inc, resulting in increased production flexibility and more favorable termination rights in exchange for a $26 million cash payment. This will lead to a pre-tax contract settlement expense of $26 million ($1.70 after-tax per diluted share) in Q4 2024.

The company updated its 2024 guidance, maintaining estimates for depletions and shipments (down low single digits), price increases (2%), and gross margin (44% to 45%). The GAAP EPS guidance was revised to $3.80-$5.80 (from $5.50-$7.50), while Non-GAAP EPS remains at $8.00-$10.00. Shortfall fees are expected to impact gross margin by 65-75 basis points, with third-party production pre-payments affecting it by 95-105 basis points.

Twisted Tea Hard Iced Tea announces the return of its holiday advent calendar with an expanded '25 Days of Twistmas' edition, following last year's sold-out 12-day version. The -edition calendar features 25 tallboy cans (24oz) of various flavors including Original, Half & Half, Peach, Raspberry, Pineapple, Mango, and Mangonada. Available from November 12th at GiveThemBeer.com for $80, with multiple release dates through November 22nd. The nation's leading hard iced tea brand aims to deliver holiday cheer with one flavor discovery per day starting December 1st.

Dogfish Head, a subsidiary of Boston Beer Company (SAM), has launched a -edition '24 Days of Dogfish Head' holiday package priced at $99. Available on GiveThemBeer.com, each package includes 10 Dogfish Head beers, 8 pieces of merchandise, and 6 ready-to-drink canned cocktails. Featured products include their signature 60 Minute IPA and Strawberry Honeyberry Vodka Lemonade. The package also contains merchandise like can coolers and beer soap made with 60 Minute IPA.