The Boston Beer Company Reported Disappointing Q3 Results
<p><a href='https://financialmodelingprep.com/financial-summary/SAM'>The Boston Beer Company, Inc. (NYSE:SAM) </a>reported disappointing Q3 earnings results, which were driven by a slowdown in hard seltzer growth and material shortfall costs. </p>
<p>The company’s quarterly net sales of $561.6 million was 5% ahead of the Street estimate of $534.7 million; however, this was the only positive from the results. The company reported an operating loss of $75.8 million, representing a huge 202% miss versus the Street estimates, while diluted EPS of -$4.76 was 215% below the consensus estimate. </p>
<p>The company now expects full 2021-year GAAP diluted EPS to range from $2 to $6, c76% below current consensus at the mid-point. For the full 2022-year, the company is guiding to depletions and shipments growth of between mid-single-digits and low-double-digits, expecting the hard seltzer category to grow 0-10% year-over-year.</p>

NYSE:SAM