SAM - Why Boston Beer Stock Got Crushed Friday Morning
Sam Adams beer maker Boston Beer (NYSE: SAM) shocked investors last night with a quarterly earnings report that fell far short of expectations. The stock is getting slammed this morning as a result with shares down more than 26% as of 10:25 a.m. EDT.
Boston Beer reported earnings per share of $4.75 for its second quarter of 2021, well below the analyst consensus estimate of $6.69. Revenue also came up short of expectations. The company blamed weaker sales of its popular Truly hard seltzer product, along with general softness in the beer industry.
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Why Boston Beer Stock Got Crushed Friday Morning