Boston Beer Co. (SAM) Misses Q3 EPS by 12c; Guides In-Line
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Boston Beer Co. (NYSE: SAM) reported Q3 EPS of $2.48, $0.12 worse than the analyst estimate of $2.60. Revenue for the quarter came in at $253.4 million versus the consensus estimate of $278.91 million.
Boston Beer Co. sees FY2016 EPS of $6.30-$6.70, versus the consensus of $6.46.
Jim Koch, Chairman and Founder of the Company, commented, "Our total company depletion trends declined in the third quarter at a slightly faster rate as we lapped new beer launches from last year, and we saw a further slowdown in growth across the Craft brewing industry. I am energized by our team's plans to return Samuel Adams to growth, that include investments in new packaging, new beers, a fifth seasonal and enhanced drinker communication. We continue to believe that we are well positioned to meet the challenges of this competitive environment, because of the quality of our employees, our beers, our innovation capability and our sales execution strength. Our strong financial position enables us to invest in growing our brands and creating new growth opportunities. A major packaging update for Samuel Adams Boston Lager has already shipped, to be followed by new Seasonal and Rebel packaging by the end of the fourth quarter, and we also expect to complete the national draft launch of Samuel Adams Rebel Juiced, a tropical IPA featuring citrusy hops in late October. In the early part of 2017, we are reimagining our seasonal program by adding two new beers; Samuel Adams Hopscape, a 30 IBU wheat ale with four types of West Coast hops for January and February 2017, and Samuel Adams Fresh as Helles, a helles lager with orange blossom petals for February and March 2017. We remain confident about the long-term outlook for the craft category and our Samuel Adams brand."
For earnings history and earnings-related data on Boston Beer Co. (SAM) click here.
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