SAM - Boston Beer GAAP EPS of $4.72 beats by $1.38 revenue of $603.3M beats by $13.27M
2023-07-27 16:24:24 ET
- Boston Beer press release ( NYSE: SAM ): Q2 GAAP EPS of $4.72 beats by $1.38 .
- Revenue of $603.3M (-2.1% Y/Y) beats by $13.27M .
- Depletions decreased 3%
- Shipments decreased 4.5%
- Gross margin increased 230 basis points to 45.4%
- Net income increased 8.8% to $58.0 million
- The Company is maintaining the full year volume and earnings guidance previously communicated in its April 25, 2023 Earnings Release and increasing its Advertising, Promotion and Selling Expense guidance. The Company experienced lower than expected freight costs year to date, which in addition to gross margin performance allows it to further support its brands.
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Boston Beer GAAP EPS of $4.72 beats by $1.38, revenue of $603.3M beats by $13.27M