Boston Beer (SAM) Jump 10% as Truly Powers Results, Has Wall Street Cheering
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Boston Beer Reports Third Quarter 2020 Results
October 22, 2020 4:15 PM EDTBOSTON, Oct. 22, 2020 /PRNewswire/ -- The Boston Beer Company, Inc. (NYSE: SAM) reported third quarter 2020 net revenue of $492.8 million, an increase of $114.3 million or 30.2%, from the same period last year. Net income for the third quarter was $80.8 million, an increase of $36.0 million or 80.6% from the same period last year. Earnings per diluted share were $6.51, an increase of $2.86 per diluted share, or 78.4% from the third quarter of 2019. This increase was primarily due to increased revenue that was driven by shipment growth of 30.5%, partially offset by lower gross margins and increases in operating... More
