Boston Beer Reports Third Quarter 2020 Results
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Boston Beer (SAM) Jump 10% as Truly Powers Results, Has Wall Street Cheering
October 23, 2020 9:44 AM EDTShares of The Boston Beer Company (NYSE: SAM) are trading about 10% higher in early action Friday after the company reported its revenue grew over 30% compared to a year ago, driven by its Truly Hard Seltzer. Better-than-expected numbers pushed analysts at Citi and Guggenheim, among others, to raise their price target on SAM.
3Q20 EPS was reported at $6.51, which is 78% higher compared to 2019. This number also easily exceeded the consensus of $4.50. Shipments rose 30.5% YoY while net sales were up 30.2%. Gross margins... More
Boston Beer Co. (SAM) Tops Q3 EPS by $2.01
October 22, 2020 4:17 PM EDTBoston Beer Co. (NYSE: SAM) reported Q3 EPS of $6.51, $2.01 better than the analyst estimate of $4.50. Revenue for the quarter came in at $525.25 million versus the consensus estimate of $520.87 million.
GUIDANCE:
Boston Beer Co. sees FY2020 EPS of $14.00-$15.00, versus the consensus of $12.63.
2020 Outlook
The Company currently projects full year 2020 earnings per diluted share to be between $14.00 and $15.00. This projection excludes the impact of ASU 2016-09. The Company's actual 2020 earnings per share could vary significantly from the current... More