Boston Beer Stock Price, News & Analysis

Boston Beer Company (NYSE: SAM) reported Q2 2024 financial results with mixed performance. Net revenue decreased 4.0% to $579.1 million, while net income fell 9.8% to $52.3 million. Depletions decreased 4% and shipments declined 6.4%. However, gross margin improved by 60 basis points to 46.0%. Year-to-date, the company saw a 2% decrease in depletions and a 3.4% decrease in shipments. Despite challenges, year-to-date net income increased 32.3% to $64.9 million. The company maintains its EPS guidance of $7.00 to $11.00 for 2024 but revised its volume guidance downward. Boston Beer continues to focus on innovation and brand investment while returning cash to shareholders through share repurchases.

Truly Hard Seltzer, the Official Hard Seltzer of U.S. Soccer, has enhanced its partnership with the U.S. Men's National Soccer Team (USMNT) by involving stars Weston McKennie and Tyler Adams in new initiatives. The brand introduces 'Shower Trulys' as the Official Shower Beverage of U.S. Soccer, and revives the popular Truly Orange Slices flavor, complete with a new mascot, 'Slicey.' These efforts aim to elevate fan engagement through innovative campaigns, such as the 'Trufah' shower accessory and American Outlaws pregame parties. Truly's 24-ounce cans featuring the U.S. Soccer crest are now available nationwide.

Samuel Adams has named Crowns & Hops Brewing Co. as the winner of its 2024 Brewing & Business Experienceship. This Inglewood-based, Black-owned, woman-owned, and veteran-owned brewery will receive mentorship and support from Samuel Adams professionals, including founder Jim Koch. This initiative is part of the Brewing the American Dream program, which aims to support food and beverage entrepreneurs. Crowns & Hops, co-founded by Beny Ashburn and Teo Hunter, has been recognized for its innovation and inclusivity in the craft beer industry. As part of the award, they will also attend the Great American Beer Festival and collaborate on a specialty beer with Samuel Adams.

Dogfish Head and Dan-O’s Seasoning introduce a -edition grilling kit, debuting June 7, 2024, exclusively on GiveThemBeer.com. The kit includes two Dogfish Head beers—Citrus Squall and a new dark lager, Y’all Don’t Know Till You Dan-O—along with Dan-O’s Original and Citra-diculous seasoning blends. This collaboration aims to enhance summer grilling experiences with unique, flavor-rich combinations. The Y’all Don’t Know Till You Dan-O beer will also be available at Dogfish Head’s Rehoboth store starting June 10 for $17 per 4-pack. Dan-O's Citra-diculous seasoning will be available on their website later in June for $17.99 per 6.5oz can.

The Boston Beer Company (NYSE: SAM) issued a statement addressing speculation about a potential company sale. The company confirmed its awareness of the Wall Street Journal article discussing these rumors but refrained from commenting on them. Instead, Boston Beer emphasized its commitment to operating as an independent entity and focusing on returning to growth.

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.