secwatch.observer — SEC 8-K summary
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Issuer:     BOSTON BEER CO INC (SAM)
CIK:        0000949870
Form:       8-K
Filed at:   2026-07-23T20:29:22+00:00
Accession:  0001193125-26-314187
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/949870/000119312526314187/0001193125-26-314187-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/949870/000119312526314187/sam-20260723.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-314187

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