Boston Beer Company beats Q3 earnings estimates but lowers full-year guidance due to weaker trends.

From Investing.com: 2024-10-24 16:28:19

Boston Beer Company beat earnings estimates in Q3, with adjusted EPS of $5.35 and revenue up 0.6% at $605.5 million. Full-year guidance for 2024 fell below estimates at $8.00 to $10.00 per share due to weaker category trends. Depletions decreased by 3% and shipment volume fell by 1.9% to 2.24 million barrels. Gross margin improved to 46.3%, benefiting from price hikes and savings. The company repurchased $191 million in shares and increased authorization by $400 million.



Read more at Investing.com: Boston Beer reports strong Q3 results, but full-year guidance falls short of estimates By Investing.com