SAM - Boston Beer guides full-year profit view ahead of expectations

Boston Beer (SAM) is on watch after issuing strong guidance. Looking at the full year, a depletions and shipments increase of between 37% and 42% is expected, of which between 1% and 2% of the growth is due to the addition of the Dogfish Head brands.Of note, national prices increase of 1% to 2% are seen.The company expects full-year adjusted EPS of $14.00 to $15.00 vs. $12.74 consensus. Boston Beer also anticipates full-year gross margin of 46% to 47% vs. the prior view for 46% to 48%. Estimated capital spending of between $160M and $190M is guided for vs. a prior view of $180M to $200M. CEO update: "We have planned some major innovations to be introduced in 2021 for all our brands. These include Truly Iced Tea Hard Seltzer, Samuel Adams' Just the Haze, our first non-alcoholic beer, Dogfish Head Scratch-Made Canned Cocktails and Angry Orchard Hard Fruit Cider.

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Boston Beer guides full-year profit view ahead of expectations