Boston Beer Q1 net revenue $426M (+3.9% YoY); EPS $1.04; reiterates FY guidance

BOSTON BEER CO INC

2024-Q1 EPS reported $1.04 revenue$426,052,000

Net revenue $426.1M (+3.9% YoY); diluted EPS $1.04; gross margin 43.7% (+570 bps).
Depletions flat; shipments +0.9% to 1.6M barrels; Truly declines offset by Twisted Tea growth.
Repurchased $65M in shares YTD; cash $205.4M, no debt.
FY2024 guidance unchanged: EPS $7-$11, gross margin 43%-45%; effective tax rate raised to 28.5% due to CEO transition costs.
New CEO Michael Spillane joined; CEO transition costs fully expensed in Q1.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BOSTON BEER CO INC reported first quarter ended March 30, 2024 results: revenue $426.1 million, net income $12.6 million, EPS $1.04. Guidance reaffirmed.

Period: first quarter ended March 30, 2024
Revenue: $426.1 million
Net income: $12.6 million
EPS: $1.04
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Net revenue of $426.1 million increased 3.9% • Gross margin of 43.7% up 570 basis points year over year • Net income of $12.6 million • Diluted income per share of $1.04

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Source: SEC EDGAR

accession 0000950170-24-048332

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