SAM - Boston Beer Says Big Price Hikes Are Coming
Boston Beer (NYSE: SAM) is still dealing with a hard-seltzer hangover. The owner of the Truly franchise said in a recent earnings report that a sharp sales slowdown sparked over $100 million of write-offs connected to excess inventory and cancelled production plans. Distributors still have too much inventory on hand heading into the fiscal fourth quarter, too.
But the good news is that Boston Beer is still expecting to grow overall sales through the rest of 2021 and all of 2022. And earnings are likely to be lifted by major price increases on the way across its beer portfolio.
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Boston Beer Says Big Price Hikes Are Coming