---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-25-098363"
form_type: "8-K"
ticker: "SAM"
cik: "0000949870"
company_name: "BOSTON BEER CO INC"
filed_at: "2025-07-24T23:59:59+00:00"
generated_at: "2026-05-18T03:03:01.524954+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Boston Beer Q2 EPS $5.45 beats, margins improve 380bps; cuts full-year volume guidance

## Summary
- Q2 net revenue $587.9M (+1.5%); diluted EPS $5.45 (+24.1%) vs prior year.
- Gross margin 49.8% up 380bps y/y on brewery efficiencies, pricing; depletions fell 5%.
- Full-year depletions guidance cut to down high single to low single digit (prior: down low to up low single).
- EPS guidance raised to $6.72-$9.54 (incl. tariffs); tariff impact lowered to $0.96-$1.28 per share.
- Repurchased $110.5M shares YTD; cash $212.4M with no debt.

## SEC filing metadata
- accession: 0000950170-25-098363
- form_type: 8-K
- ticker: SAM
- cik: 0000949870
- company_name: BOSTON BEER CO INC
- filed_at: 2025-07-24T23:59:59+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/949870/000095017025098363/0000950170-25-098363-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/949870/000095017025098363/sam-20250724.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-25-098363
- JSON: https://secwatch.observer/filing/0000950170-25-098363.json
- Plain text: https://secwatch.observer/filing/0000950170-25-098363.txt

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