Boston Beer Co. (SAM) Shares Drop 8% on Q2 Earnings Miss and Lowered Guidance
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BOSTON BEER REPORTS SECOND QUARTER FINANCIAL RESULTS
July 21, 2022 4:15 PM EDTSecond Quarter (13-week) 2022 and Year-to-date 2022 (26-week) Financial Results
BOSTON, July 21, 2022 /PRNewswire/ -- The Boston Beer Company, Inc. (NYSE: SAM), today reported financial results. Key results for the second quarter ended June 25, 2022 were:
Depletions decreased 7% and shipments declined 1.1% compared to the quarter ended June 26, 2021.Net revenue of $616.2 million increased 2.2% compared to the net revenue realized in the second quarter of 2021.Gross margin of 43.1% was 2.6 percentage points below the 2021 second quarter gross margin of... More