Boston Beer (NYSE:SAM – Get Free Report) announced its quarterly earnings data on Thursday. The company reported $3.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.83 by ($1.18), Zacks reports. Boston Beer had a positive return on equity of 12.08% and a negative net margin of 2.96%.The firm had revenue of $568.34 million for the quarter, compared to the consensus estimate of $566.68 million. During the same quarter last year, the business earned $5.45 earnings per share. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. Boston Beer updated its FY 2026 guidance to 8.500-10.500 EPS.
Here are the key takeaways from Boston Beer’s conference call:
- Boston Beer said second-quarter depletions fell 6% and shipments fell 4.5%, with Twisted Tea and Truly continuing to face volume and share pressure. Management said full-year volume trends still point to a decline in the low- to mid-single digits.
- Sun Cruiser remained a bright spot, with triple-digit depletion growth and strong distribution gains, and management said the brand is revenue- and margin-accretive. The company expects continued strong growth in the second half and sees further long-term runway.
- The company reported a 50.4% gross margin in the quarter, up 60 basis points year over year, helped by brewery efficiencies, mix, procurement savings, and pricing. Boston Beer raised the low end of its full-year gross margin guidance while keeping non-GAAP EPS guidance unchanged.
- Management reduced planned incremental advertising investment by $20 million after cutting lower-performing media, mostly in Truly. Even with the reduction, ad spending is still expected to remain above historical levels and year-over-year AP&S is still projected to rise.
- Boston Beer reaffirmed its focus on Twisted Tea, Truly, and innovation, including early-stage launches Sinless Vodka Cocktails and Lit Electric Coolers. The company said these products are not expected to materially affect 2026 volume, but could become more meaningful later as distribution and consumer response develop.
Boston Beer Price Performance
Shares of NYSE SAM opened at $172.70 on Friday. The firm has a market capitalization of $1.80 billion, a PE ratio of -27.79, a P/E/G ratio of 3.27 and a beta of 0.78. Boston Beer has a 1-year low of $158.68 and a 1-year high of $264.46. The business’s fifty day moving average price is $177.50 and its two-hundred day moving average price is $209.46.
Analysts Set New Price Targets
View Our Latest Analysis on Boston Beer
Hedge Funds Weigh In On Boston Beer
Several institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its stake in Boston Beer by 55.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 62,051 shares of the company’s stock valued at $14,820,000 after purchasing an additional 22,129 shares during the period. Empowered Funds LLC grew its position in Boston Beer by 8.8% in the 1st quarter. Empowered Funds LLC now owns 1,207 shares of the company’s stock worth $288,000 after purchasing an additional 98 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Boston Beer by 5.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 21,902 shares of the company’s stock valued at $5,231,000 after purchasing an additional 1,067 shares during the period. Cetera Investment Advisers increased its stake in shares of Boston Beer by 17.9% in the second quarter. Cetera Investment Advisers now owns 1,653 shares of the company’s stock valued at $315,000 after purchasing an additional 251 shares during the period. Finally, First Trust Advisors LP raised its holdings in shares of Boston Beer by 41.5% during the second quarter. First Trust Advisors LP now owns 15,657 shares of the company’s stock valued at $2,988,000 after buying an additional 4,591 shares during the last quarter. Institutional investors own 81.13% of the company’s stock.
Trending Headlines about Boston Beer
Here are the key news stories impacting Boston Beer this week:
- Negative Sentiment: Q2 EPS came in at $3.65, below the consensus estimate, and down from $5.45 a year ago, signaling earnings deterioration. Article: Boston Beer (SAM) Q2 Earnings and Revenues Miss Estimates
- Negative Sentiment: Revenue of about $568.3 million was slightly below Wall Street expectations and down 3.3% year over year, reflecting ongoing sales weakness. Article: Boston Beer Company Posts Lower Second-Quarter Profit as Sales Decline
- Negative Sentiment: Operating profit and net income both declined, and shipment volume fell 4.5% year over year, indicating margin and demand pressure. Article: Boston Beer Company (SAM) Releases Q2 2026 Earnings: Revenue Miss and Profit Decline
- Neutral Sentiment: The company maintained FY 2026 EPS guidance of 8.50 to 10.50, which may help limit downside if management can stabilize performance. Article: Boston Beer Reports Second Quarter Financial Results
Boston Beer Company Profile
The Boston Beer Company, Inc (NYSE: SAM) is a leading craft brewer headquartered in Boston, Massachusetts. Since its founding in 1984 by Jim Koch, the company has focused on producing high-quality, distinctive beers and beverages for retail, on-premise, and distribution partners across the United States. Its operations include brewing, packaging, marketing and distribution, supported by a network of wholly owned brewing facilities and strategic partnerships with regional breweries.
Boston Beer’s flagship brand, Samuel Adams Boston Lager, helped establish the modern U.S.
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