Craft Brewers Alliance (BREW) Tops Q4 EPS by 1c

Craft Brewers Alliance (NASDAQ: BREW) reported Q4 EPS of $0.05, $0.01 better than the analyst estimate of $0.04. Revenue for the quarter came in at $48.53 million versus the consensus estimate of $45.93 million.

Confirming financial guidance for 2018:

Our outlook for 2018 reflects growing confidence and increasing momentum in leveraging our enhanced AB partnership as we harness Kona’s growth potential, sharpen the role of our strategic local brands, and strengthen revenue management, while continuing to drive operational improvements.

We are confirming our previously reported guidance for 2018 as follows:

• Depletions are expected to range between a decline of 2% and an increase of 3%. As evidence of our continued progress harmonizing our supply chain, we also expect shipments to range between a decline of 2% and an increase of 3%.
• Average price increases of 1% to 3%, reflecting improved revenue management capabilities and lower federal excise taxes.
• Gross margin rate of 32.0% to 35.0%, reflecting increases in net revenue per barrel, continued improvements in brewery operations, lower fixed overhead, and ongoing efforts to stabilize our pub operations.
• SG&A expense ranging from $59 million to $61 million, primarily reflecting reinvestment of cost savings into our sales and marketing infrastructure, as well as expanded consumer and trade programming.
• Capital expenditures of approximately $16 million to $19 million, including our new Kona brewery and the addition of a new can line in our Portland brewery to address consumer demand.
• Effective tax rate of 27%.

For earnings history and earnings-related data on Craft Brewers Alliance (BREW) click here.

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