Boston Beer Shares Down 3% on Q1 Earnings Miss
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BOSTON BEER REPORTS FIRST QUARTER FINANCIAL RESULTS
April 21, 2022 4:15 PM EDTFirst Quarter (13-week) 2022 Financial Results
BOSTON, April 21, 2022 /PRNewswire/ --Â The Boston Beer Company, Inc. (NYSE: SAM), today reported financial results for the first quarter ended March 26, 2022. Key results were:
First quarter depletions decreased 7% and first quarter shipments decreased 25.1% compared to the quarter ended March 27, 2021 First quarter net revenue of $430.1 million decreased 21.1% compared to the net revenue realized in the first quarter of 2021 First quarter gross margin of 40.2% was 5.6 percentage points below the 2021 first quarter margin of 45.8% First quarter operating expenses of $175.1 million... More