---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-055629"
form_type: "8-K"
ticker: "SAM"
cik: "0000949870"
company_name: "BOSTON BEER CO INC"
filed_at: "2023-10-26T23:59:59+00:00"
generated_at: "2026-06-09T09:33:51.074460+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Boston Beer Q3 depletions down 6%; net revenue up 0.9% to $601.6M; guidance narrowed

## Summary
- Depletions decreased 6% (fiscal) and ~3% (comparable weeks); shipments down 2.5%.
- Net revenue increased 0.9% to $601.6M; gross margin improved 250bps to 45.7%.
- Net income of $45.3M ($3.70 diluted EPS) includes $16.4M non-cash Dogfish Head impairment.
- Year-to-date share repurchases $69.4M; cash $310.8M, no debt.
- Full-year 2023 guidance narrowed: depletions -5% to -7%, GAAP EPS $6.04-$8.04 (from $6-$10).

## SEC filing metadata
- accession: 0000950170-23-055629
- form_type: 8-K
- ticker: SAM
- cik: 0000949870
- company_name: BOSTON BEER CO INC
- filed_at: 2023-10-26T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/949870/000095017023055629/0000950170-23-055629-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/949870/000095017023055629/sam-20231026.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-055629
- JSON: https://secwatch.observer/filing/0000950170-23-055629.json
- Plain text: https://secwatch.observer/filing/0000950170-23-055629.txt

## Key facts
- Earnings Releases
  BOSTON BEER CO INC reported third quarter of 2023 results: revenue $601.6 million, net income $45.3 million, EPS $3.70.
  - Period: third quarter of 2023
  - Revenue: $601.6 million
  - Net income: $45.3 million
  - EPS: $3.70
  - Result: reported results
  source text: approximately 3% on a comparable week basis • Shipments decreased 2.5% on a fiscal calendar basis and decreased 1.8% on a comparable week basis • Net revenue increased 0.9% to $601.6 million • Gross margin increased 250 basis points to 45.7% • Net income of $45.3 million, which includes non-cash brand impairment charges of $16.4 million and the related tax benefit •
  evidence_url: https://www.sec.gov/Archives/edgar/data/949870/000095017023055629/0000950170-23-055629-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.