Boston Beer Co. (SAM) Misses Q1 EPS by 28c, Withdraws Guidance
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Boston Beer Reports First Quarter 2020 Results
April 22, 2020 4:15 PM EDTBOSTON, April 22, 2020 /PRNewswire/ -- The Boston Beer Company, Inc. (NYSE: SAM) reported first quarter 2020 net revenue of $330.6 million, an increase of $78.9 million or 31.4% from the same period last year, mainly due to an increase in shipments of 32.2%. Net income for the first quarter was $18.2 million, or $1.49 per diluted share, a decrease of $5.5 million or $0.53 per diluted share from the first quarter of 2019. The decrease in net income reflects that the Company's higher net revenue was more than offset by increases in operating expenses and lower gross margins. Â
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