secwatch.observer — SEC 8-K summary
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Issuer:     BOSTON BEER CO INC (SAM)
CIK:        0000949870
Form:       8-K
Filed at:   2025-10-23T23:59:59+00:00
Accession:  0001193125-25-248828
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 revenue down 11.2% to $537.5M; raises 2025 EPS guidance to $7.80-$9.80
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- Q3 net revenue $537.5M (-11.2% YoY); diluted EPS $4.25.
- Gross margin 50.8% (+450 bps) benefiting from procurement savings, price increases, and product mix.
- Depletions down 3%, shipments down 13.7%; declines in Twisted Tea, Truly, Samuel Adams partially offset by Sun Cruiser and Angry Orchard.
- 2025 guidance raised: gross margin 47%-48% (from 46%-47.3%), EPS $7.80-$9.80 (from $6.72-$9.54), capex lowered to $50-$70M.
- Tariff cost estimate lowered to $9-$13M from prior $15-$20M; EPS impact now $0.60-$0.80.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/949870/000119312525248828/0001193125-25-248828-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/949870/000119312525248828/sam-20251023.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-248828

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer