UPDATE: Goldman Sachs Downgrades Boston Beer Company (SAM) to Neutral
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Boston Beer Reports Second Quarter 2021 Results
July 22, 2021 4:15 PM EDTBOSTON, July 22, 2021 /PRNewswire/ -- The Boston Beer Company, Inc. (NYSE: SAM) reported second quarter 2021 net revenue of $602.8 million, an increase of $150.7 million or 33.3%, from the same period last year. Net income for the second quarter was $59.2 million, a decrease of $0.9 million or 1.6% from the same period last year. Earnings per diluted share were $4.75, a decrease of $0.13 per diluted share, or 2.7% from the second quarter of 2020. This decrease was primarily due to increases in operating expenses, lower gross margins, and a higher tax rate, partially offset by increased revenue driven by... More
