---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-314187"
form_type: "8-K"
ticker: "SAM"
cik: "0000949870"
company_name: "BOSTON BEER CO INC"
filed_at: "2026-07-23T20:29:22+00:00"
generated_at: "2026-07-23T20:30:07.127200+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Boston Beer Q2 net revenue down 3.3%; non-GAAP EPS $3.65; narrows FY guidance

## Summary
- Depletions fell 6% in Q2; shipments down 4.5% to ~2.0M barrels.
- Net revenue $568.3M (-3.3%); gross margin 50.4% (+60 bps YoY).
- GAAP diluted EPS $4.96 includes $1.31 benefit from litigation adjustment; non-GAAP EPS $3.65.
- Full-year 2026 guidance: gross margin 48.5%-50% (narrowed), A&P spend $0-$20M (down from $20-$40M), non-GAAP EPS $8.50-$10.50 unchanged.
- Cash $265.5M, no debt; repurchased $54M in shares YTD; litigation judgment of $175.5M under appeal.

## SEC filing metadata
- accession: 0001193125-26-314187
- form_type: 8-K
- ticker: SAM
- cik: 0000949870
- company_name: BOSTON BEER CO INC
- filed_at: 2026-07-23T20:29:22+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/949870/000119312526314187/0001193125-26-314187-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/949870/000119312526314187/sam-20260723.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-314187
- JSON: https://secwatch.observer/filing/0001193125-26-314187.json
- Plain text: https://secwatch.observer/filing/0001193125-26-314187.txt

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