secwatch.observer — SEC 8-K summary
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Issuer:     BOSTON BEER CO INC (SAM)
CIK:        0000949870
Form:       8-K
Filed at:   2024-10-24T23:59:59+00:00
Accession:  0000950170-24-117077
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Boston Beer Q3 net rev +0.6% to $605.5M; GAAP EPS $2.86 (incl. $2.49 impairment), non-GAAP $5.35; guidance cut
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- Depletions fell 3% and shipments down 1.9%; growth in Twisted Tea, Sun Cruiser, Hard Mountain Dew partially offset declines in Truly Hard Seltzer.
- Gross margin 46.3%, up 60 bps YoY on price increases and procurement savings; full-year gross margin guidance narrowed to 44%-45%.
- Recorded $42.6M non-cash impairment of Dogfish Head intangible asset; GAAP EPS $2.86 vs $3.70 prior year.
- Full-year 2024 GAAP EPS guidance cut to $5.50-$7.50 from $7.00-$11.00; non-GAAP EPS introduced at $8.00-$10.00.
- Year-to-date operating cash flow $207M; share repurchases $191M; board added $400M to buyback authorization.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/949870/000095017024117077/0000950170-24-117077-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/949870/000095017024117077/sam-20241024.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-117077

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