Boston Beer Reports Second Quarter 2021 Results
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Go back to Boston Beer Reports Second Quarter 2021 Results
July 23, 2021 6:31 AM EDT
Guggenheim analyst Laurent Grandet lowered the price target on Boston Beer Company (NYSE: SAM) to $1,500.00 (from $1,800.00) while maintaining a Buy rating.
The analyst commented, "Boston Beer reported 2Q results that were substantially weaker than we and the Street expected on the top... More
July 22, 2021 4:17 PM EDT
Boston Beer Co. (NYSE: SAM) reported Q2 EPS of $4.75, $2.10 worse than the analyst estimate of $6.85. Revenue for the quarter came in at $602.8 million versus the consensus estimate of $665.25 million.
Jim Koch, Chairman and Founder of the Company, commented that "During the second quarter we saw significant growth in the On-Premise channel and re-opened all our retail locations as most COVID-19 restrictions have been lifted. However, our 24% depletions growth for the second quarter decelerated from our first quarter growth of 48% and was below our expectations, as the hard seltzer category and overall beer... More
