What is The Boston Beer's latest dividend and current dividend yield?

What were the key takeaways from The Boston Beer's earnings call?

What were the key takeaways from The Boston Beer’s earnings call?

What is the revenue and EPS growth rate for The Boston Beer year over year?

What factors drove the changes in The Boston Beer's revenue and profit?

What is the market's earnings forecast for The Boston Beer next quarter?

What guidance did The Boston Beer's management provide for the next earnings period?

What is The Boston Beer's gross profit margin?

- **Beyond Beer Dominance**: 85% of volume growth, outperforming legacy categories. Sun Cruiser gains tripled distribution and weekly volume, positioning as next iconic brand.
- **Gross Margin Expansion**: Raised to 46-47.3% FY25, offsetting 70-100bps tariff headwind. Q2 gross margin 49.8%, up 380bps YoY.
- **EPS Growth**: 24% Q2 increase to $5.45, FY25 guidance $6.72-$9.54. Tariffs impact EPS by $0.96-$1.28.
- **Cautious Outlook**: H2 shipments expected to decline mid-teens, reflecting industry softness and macro challenges.
- **Innovation Focus**: $111M in brand investments for Sun Cruiser, Truly, and core portfolio. Angry Orchard and Dogfish Head show growth momentum.

**【Management Opening Remarks (Jim Koch)】**
- **Challenging Macro Environment**: Industry depletions down 4% YTD, company down 3% despite gaining share. Key drivers include economic uncertainty and Hispanic consumer pressure.
- **Beyond Beer Growth**: Represents 85% of volume, outperforming legacy categories. Sun Cruiser, a premium RTD spirits innovation, is a top performer with tripled distribution and weekly volume gains.
- **Gross Margin Expansion**: Raised guidance to 46-47.3% for FY25, absorbing tariff costs. Operating cash flow of $125M in H1 supports brand investments and $111M in shareholder returns.

**【CEO Commentary (Michael Spillane)】**
- **Q2 Performance**: 24% EPS growth to $5.45, driven by gross margin expansion and productivity initiatives. Twisted Tea holds share but faces headwinds, while Truly struggles despite high ABV innovations.
- **Innovation Focus**: Sun Cruiser and Dogfish Head (Grateful Dead collaboration) driving growth. Angry Orchard returns to growth with new campaigns.
- **Volume Outlook**: H2 shipments expected to decline mid-teens as they rebalance with depletions, reflecting cautious industry trends.

**【CFO Commentary (Diego Reynoso)】**
- **Financial Highlights**: Q2 revenue +1.5% YoY, gross margin 49.8% (up 380bps YoY). Tariffs estimated at $15-20M FY25, partially offset by brewery efficiency, procurement savings, and waste reduction.
- **EPS Guidance**: Full year $6.72-$9.54, reflecting tariff impact. Q3 shipments expected to decline mid-teens due to seasonality and macro challenges.
- **Capital Allocation**: Reduced capex to $70-90M, focusing on productivity. Share buyback program with $317M remaining under $1.6B authorization.

**【Q&A Highlights】**
- **Summer Softness**: July data continues soft, driven by weather and consumer caution. Management cautious on Twisted Tea but optimistic on Sun Cruiser's long-term potential.
- **Tariff Mitigation**: Net of supplier actions, but still a headwind. Gross margin guidance reflects ongoing productivity gains.
- **Brand Investment**: Continued support for Sun Cruiser, Truly, and core brands despite macro challenges.

The Boston Beer Company, Inc. (SAM) Q2 2025 Earnings Call Transcript

- **Gross Margin Triumph**: Q1 2025 gross margin hits 48.3%, highest since 2019, driven by innovation and cost savings.
- **Innovation Powerhouse**: Sun Cruiser shipments tripled, Truly Unruly variety pack leads Beyond Beer growth.
- **Share Buybacks Boost**: $61M repurchased YTD, EPS surges to $2.16 (vs. $1.03 YoY).
- **Tariff Headwind**: $20-30M cost impact expected, but no immediate price hikes planned.
- **Twisted Tea Resilience**: Low single-digit growth forecast despite category decline, supported by new variants.


**【Management Opening Remarks】**
- Q1 2025 depletions down 1% YoY, shipments up 5.3% driven by Sun Cruiser, Hard Mountain Dew, and Twisted Tea innovations.
- Gross margin improved to 48.3% (up 460bps YoY) due to volume leverage, procurement savings, and brewery efficiency.
- Company repurchased $61M shares YTD, maintaining focus on margin expansion and innovation.

**【CEO Business Update】**
- **Twisted Tea**: Dollar sales +1% in measured channels, gaining market share in hard tea. Twisted Tea Extreme flavors rank top 2 growth drivers in FMB.
- **Truly**: Struggling in declining hard seltzer category (-5% Q1), but Truly Unruly variety pack is #1 dollar share gainer in Beyond Beer.
- **Innovations**: Sun Cruiser shipments tripled in Q1, now in 3x distribution points ahead of summer. Hard Mountain Dew Code Red launched in single-serve format.
- **Marketing**: +$17.3M in advertising spend YoY for brand awareness and innovation support.

**【CFO Financial Review】**
- Revenue +6.5% YoY to $584M, driven by volume (+5.3%) and price (+1.2%).
- EPS $2.16 (vs. $1.03 YoY), benefiting from gross margin expansion and $61M share buybacks.
- 2025 Guidance: EPS $8-$10.50, excluding $20-30M tariff impact. Gross margin 45-47% (excluding tariffs).
- Operating expenses up 14.3% YoY due to brand investments, offset by G&A savings.

**【Q&A Key Takeaways】**
- **Tariff Impact**: $20-30M cost headwind from aluminum and point-of-sale materials, ~$1.25-$1.90 EPS drag. No pricing hikes planned yet.
- **Sun Cruiser**: 3x distribution expansion by summer, early measured channel data to emerge in Q2.
- **Twisted Tea**: Low single-digit growth expected, aided by Light variant and on-premise activations.
- **Consumer Trends**: Macro weakness (-2% FMB, -5% beer category) offset by innovation and brand investment.
- **Share Repurchases**: $367M remaining under $1.6B authorization, prioritizing cash return.


The Boston Beer Company, Inc. (SAM)-24 Apr 25-2025 Q1 Earnings call transcript

- **Q4 Revenue Growth**: 2.2% YoY driven by price hikes and lower returns, despite flat depletions.
- **Gross Margin Expansion**: 230bps YoY to 39.9%, excluding one-time costs.
- **2025 Outlook**: EPS $8-$10.50, with $30-50M ad spend boost for Sun Cruiser and Truly.
- **Sun Cruiser Momentum**: Distribution to triple by summer 2025, supported by $26M in upfront costs.
- **Cannabis Risk**: Emerging THC beverages in Louisiana, Minnesota challenge beer categories.

**【CEO Summary Section】**
- Revenue grew 2.2% YoY in Q4, driven by price increases and lower returns, despite flat depletions.
- Gross margin expanded 230bps YoY to 39.9%, excluding shortfall fees and prepayments.
- 2025 guidance: Revenue depletions flat to low-single-digit growth, gross margin 45-47%, EPS $8-$10.50.
- Advertising spend to increase $30-50M, focused on Sun Cruiser, Twisted Tea, and Truly Unruly.

**【CFO Financial Commentary】**
- 2024 full-year gross margin expanded 200bps to 44.4%, with 200bps from productivity initiatives.
- Non-GAAP EPS of $9.43 (+31% YoY) driven by gross margin gains and share buybacks.
- 2025 capital expenditures $90-110M, primarily for brewery infrastructure.
- Free cash flow of $173M in 2024 used for $239M share repurchases.

**【Q&A Highlights】**
- Sun Cruiser distribution to triple by summer 2025, with $26M contract settlement costs in Q4.
- Truly Hard Seltzer volume underperformed in 2024, but 2025 plans include Unruly expansion and Barstool Sports partnership.
- Twisted Tea Light has <25% of Original's distribution, targeting underpenetrated demographics.
- Aluminum tariffs minimal impact, as costs pass-through and represent <1% of COGS.
- Cannabis beverages pose competitive threat in certain states, but long-term impact unclear.

The Boston Beer Company, Inc. (SAM)-25 Feb 25-2024 Q4 Earnings call transcript

The Boston Beer Company, Inc. (SAM)-24 Oct 24-2024 Q3 Earnings call transcript

Boston Beer Co., Inc. - Ordinary Shares (SAM)-25 Jul 24-2024 Q2 Earnings call transcript

Boston Beer Co., Inc. - Ordinary Shares (SAM)-25 Apr 24-2024 Q1 Earnings call transcript

Boston Beer Co., Inc. - Ordinary Shares (SAM)-27 Feb 24-2023 Q4 Earnings call transcript

Boston Beer (SAM)-26 Oct 23-2023 Q3 Earnings call transcript

Boston Beer (SAM)-27 Jul 23-2023 Q2 Earnings call transcript

Boston Beer (SAM)-27 Apr 23-2023 Q1 Earnings call transcript

Boston Beer (SAM)-15 Feb 23-2022 Q4 Earnings call transcript

Boston Beer (SAM)-20 Oct 22-2022 Q3 Earnings call transcript

Boston Beer (SAM)-22 Jul 22-2022 Q2 Earnings call transcript

Boston Beer (SAM)-22 Apr 22-2022 Q1 Earnings call transcript

Boston Beer (SAM)-17 Feb 22-2021 Q4 Earnings call transcript

Boston Beer (SAM)-22 Oct 21-2021 Q3 Earnings call transcript

Boston Beer (SAM)-23 Jul 21-2021 Q2 Earnings call transcript

Boston Beer (SAM)-23 Apr 21-2021 Q1 Earnings call transcript

Boston Beer (SAM)-18 Feb 21-2020 Q4 Earnings call transcript

Boston Beer (SAM)-23 Oct 20-2020 Q3 Earnings call transcript

Boston Beer (SAM)-24 Jul 20-2020 Q2 Earnings call transcript

Boston Beer (SAM)-23 Apr 20-2020 Q1 Earnings call transcript

Boston Beer (SAM)-19 Feb 20-2019 Q4 Earnings call transcript

Boston Beer (SAM)-29 Oct 19-2019 Q3 Earnings call transcript

Boston Beer (SAM)-25 Jul 19-2019 Q2 Earnings call transcript

Boston Beer (SAM)-24 Apr 19-2019 Q1 Earnings call transcript

Boston Beer (SAM)-20 Feb 19-2018 Q4 Earnings call transcript

Boston Beer (SAM)-25 Oct 18-2018 Q3 Earnings call transcript

Boston Beer (SAM)-26 Jul 18-2018 Q2 Earnings call transcript

Boston Beer (SAM)-25 Apr 18-2018 Q1 Earnings call transcript

Boston Beer (SAM)-21 Feb 18-2017 Q4 Earnings call transcript

Boston Beer (SAM)-26 Oct 17-2017 Q3 Earnings call transcript

SAM

SAM fundamentals

Earnings Call

You can ask Aime