---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-25-026706"
form_type: "8-K"
ticker: "SAM"
cik: "0000949870"
company_name: "BOSTON BEER CO INC"
filed_at: "2025-02-25T23:59:59+00:00"
generated_at: "2026-05-26T05:20:44.118219+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Boston Beer Q4 net rev +2.2%, GAAP loss $3.38/diluted; FY24 non-GAAP EPS $9.43 +31.5%

## Summary
- Q4 net revenue $402.3M (+2.2% YoY); GAAP diluted loss $3.38 (includes $1.70 contract settlement expense).
- Full-year 2024 non-GAAP EPS $9.43 (+31.5% YoY); GAAP EPS $5.06 (includes $42.6M Dogfish Head impairment).
- Gross margin expanded 230 bps in Q4 to 39.9%, and 200 bps for full year to 44.4%.
- Operating cash flow $249M; repurchased $239M in FY24 and $29M in 2025 through Feb 21.
- 2025 guidance: shipments down Lsd to up Lsd, gross margin 45-47%, GAAP EPS $8.00-$10.50, ad spend up $30-50M.

## SEC filing metadata
- accession: 0000950170-25-026706
- form_type: 8-K
- ticker: SAM
- cik: 0000949870
- company_name: BOSTON BEER CO INC
- filed_at: 2025-02-25T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- 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/949870/000095017025026706/0000950170-25-026706-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/949870/000095017025026706/sam-20250225.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-25-026706
- JSON: https://secwatch.observer/filing/0000950170-25-026706.json
- Plain text: https://secwatch.observer/filing/0000950170-25-026706.txt

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