Boston Beer Company (SAM) PT Lowered to $275 at Morgan Stanley
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The Boston Beer Company Announces CEO Succession Plan
February 27, 2024 4:28 PM ESTBOSTON, MA, Feb. 27, 2024 (GLOBE NEWSWIRE) -- The Boston Beer Company (NYSE: SAM) today announced leadership changes effective April 1, 2024. Dave Burwick will retire as President and Chief Executive Officer and member of the Board of Directors, with Michael Spillane to assume the President and CEO role effective upon Burwicks retirement. Spillane is currently the... More
Boston Beer Reports Fourth Quarter Financial Results
February 27, 2024 4:15 PM ESTBOSTON, Feb. 27, 2024 (GLOBE NEWSWIRE) -- The Boston Beer Company, Inc. (NYSE: SAM), today reported financial results for its fourth quarter and full fiscal year 2023 that ended December 30, 2023. The 2023 fiscal fourth quarter included 13 weeks and is compared to the 2022 fiscal fourth quarter, which included 14 weeks. The 2023 full fiscal year included 52 weeks and is compared to the 2022 full fiscal year, which included 53 weeks.
Key results were:
Fourth Quarter 2023 Summary:
Depletions decreased 9%. Depletions decreased 1% on a 13-week comparable basisShipments decreased 12.2%. Shipments decreased 3.5% on a 13-week comparable basisNet revenue of $393.7... More