{"id":77547,"date":"2023-10-27T14:27:45","date_gmt":"2023-10-27T18:27:45","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/boston-beers-stock-falls-6-after-profit-miss-as-company-lowers-guidance\/"},"modified":"2023-10-27T14:27:48","modified_gmt":"2023-10-27T18:27:48","slug":"boston-beers-stock-falls-6-after-profit-miss-as-company-lowers-guidance","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=77547","title":{"rendered":"Boston Beer\u2019s stock falls 6% after profit miss as company lowers guidance"},"content":{"rendered":"
\n

Boston Beer Co.\u2019s stock
\n SAM,
\n -11.54%<\/bg-quote>
\n tumbled 6% after hours Thursday, after the brewer of Sam Adams beer . The company posted net income of $45.3 million, or $3.70 a share, for the quarter, up from $27.3 million, or $2.21 a share, in the year-earlier period. The number included a non-cash brand impairment charge of 96 cents a share. Revenue fell 0.9% to $601.6 million. The FactSet consensus was for EPS of $4.08 and revenue of $594.0 million. Depletions, a metric that measures the number of cases sold by distributors to retailers,\u00a0fell 6%, due to decreases in the company\u2019s Truly, Angry Orchard, Samuel Adams and Dogfish Head brands, which were partially offset by increases in its Twisted Tea and Hard Mountain Dew brands. The company narrowed and lowered its EPS guidance range and now expects EPS of $6.04 to $8.04 compared with prior guidance of $6.00 to $10.00. It expects depletions to be down 5% to 7%, compared with prior guidance of down 2% to 8%. The stock has gained 11% in the year to date, while the S&P 500
\n SPX,
\n -0.68%<\/bg-quote>
\n has gained 94%. <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Boston Beer Co.\u2019s stock SAM, -11.54% tumbled 6% after hours Thursday, after the brewer of Sam Adams beer . The company posted net income of $45.3 million, or $3.70 a share, for the quarter, up from $27.3 million, or $2.21 a share, in the year-earlier period. The number included a non-cash brand impairment charge of […]<\/p>\n","protected":false},"author":1,"featured_media":1383,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-77547","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nBoston Beer\u2019s stock falls 6% after profit miss as company lowers guidance | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Boston Beer Co.\u2019s stock SAM, -11.54% tumbled 6% after hours Thursday, after the brewer of Sam Adams beer . 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