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Boston Beer Company Inc
F:BBEA

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Boston Beer Company Inc
F:BBEA
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Price: 160.3 EUR 1.58% Market Closed
Market Cap: €1.9B

Boston Beer Company Inc
Investor Relations

Boston Beer Company makes and sells alcoholic beverages, best known for Samuel Adams beer, Twisted Tea, Dogfish Head, and Angry Orchard cider. It also sells hard seltzers and other ready-to-drink beverages. The company earns money mainly by selling finished drinks to beer wholesalers, distributors, bars, restaurants, and retailers, who then sell them to consumers. Its business is different from a large brewery that focuses on one core beer. Boston Beer builds and manages a portfolio of brands that cover different tastes and occasions, from craft beer to flavored malt beverages, cider, and tea-based drinks. That gives it a broader reach in adult beverage aisles and on tap handles than a single-brand brewer. For beginner investors, the key idea is that Boston Beer sits in the middle of the beverage supply chain: it creates branded drinks, markets them to trade partners, and relies on distribution and consumer demand to move product. Its success depends on brand strength, shelf space, tap placements, and keeping its labels relevant as drinking preferences shift.

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Last Earnings Call
Fiscal Period
Q1 2026
Call Date
Apr 30, 2026
AI Summary
Q1 2026

Volume: Boston Beer said first-quarter depletions fell 4% and shipments fell 6.9%, with weakness in Twisted Tea, Truly, Samuel Adams and Hard Mtn Dew partially offset by Sun Cruiser, Angry Orchard and Dogfish Head.

Guidance: The company narrowed full-year 2026 volume guidance to down low single digits to down mid-single digits, from flat to down mid-single digits before.

Margins: First-quarter gross margin improved to 49.3%, up 100 basis points year over year, and management said it remains on track to deliver 2026 savings.

EPS: Full-year non-GAAP EPS guidance was cut to $8.50 to $10.50 from $8.50 to $11, mainly because of weaker volume and higher energy costs.

Litigation: The quarter included $216 million in pretax litigation expense tied to a supplier contract dispute, which reduced first-quarter GAAP EPS by $15.52.

Brand mix: Twisted Tea remains under pressure, but Sun Cruiser is growing fast and is now a major source of growth and margin accretion; Angry Orchard and Dogfish Head have now grown for four straight quarters.

Summer setup: Management is leaning on World Cup-related marketing, summer activations and added shelf space to improve trends in the key second and third quarters.

Key Financials
Depletions
down 4%
Shipments
down 6.9%
Distributor inventory
4.5 weeks on hand
Revenue
4.4% lower
Gross margin
49.3%
Advertising, promotional and selling expenses
up $2.5 million
General and administrative expenses
up $4.4 million
Pretax litigation expenses
$216 million
GAAP EPS impact from litigation
$15.52
Non-GAAP EPS
$1.64
Volume guidance
down low single digits to down mid-single digits
Price increases
1% to 2%
Tariff cost estimate
$20 million to $30 million
Cash balance
$164 million
Credit line availability
$150 million
Share repurchases year to date
over $30 million
Remaining repurchase authorization
approximately $197 million
Domestic internal production
95%
Obsolete inventories
reduced 36%
Fiscal week depletion trends
down 4%
Earnings Call Recording
Other Earnings Calls

Management

Mr. C. James Koch
Founder & Chairman of the Board
No Bio Available
Mr. Michael Spillane
President, CEO & Director
No Bio Available
Mr. Samuel A. Calagione III
Founder, Brewer of Dogfish Head & Director
No Bio Available
Mr. Diego Reynoso
CFO & Treasurer
No Bio Available
Mr. Matthew Donal Murphy
Chief Accounting Officer & VP of Finance
No Bio Available
Ms. Lesya Lysyj
Chief Marketing Officer
No Bio Available
Mr. David A. Burwick
Advisor
No Bio Available
Mr. Philip A. Hodges
Chief Supply Chain Officer
No Bio Available
Ms. Tara L. Heath
Chief Legal Officer & General Counsel
No Bio Available
Mr. Michael R. Crowley
Chief Sales Officer
No Bio Available

Contacts

Address
MASSACHUSETTS
Boston
One Design Center Place, Suite 850 C/O The Boston Beer Company
Contacts
+16173685056.0
www.bostonbeer.com
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