Boston Beer Reports Strong EPS Beat, Shipment Growth In Q1

Boston Beer Company Inc (NYSE:SAM) reported first-quarter financial results after the market close on Thursday. Here’s a rundown of the report.

Q1 Earnings: Boston Beer reported first-quarter revenue of $453.87 million, beating analyst estimates of $434.38 million. The craft brewer reported first-quarter earnings of $2.16 per share, easily topping estimates of $1.01 per share, according to Benzinga Pro.

Total revenue jumped 6.5% year-over-year due to volume increases and pricing. Shipment volume for the quarter totaled approximately 1.7 million barrels, up 5.3% year-over-year. The shipment growth was driven primarily by increases in Sun Cruiser, Hard Mountain Dew and Twisted Tea brands, partially offset by declines in the Truly brand. Depletions were down 1% year-over-year in the first quarter.

Boston Beer said it repurchased $49.2 million of its common stock in the quarter and has already repurchased another $11.3 million of shares since the quarter’s end. The company ended the period with a cash balance of $152.5 million.

“Our first quarter performance reflects a solid start to the year as we increased our market share and significantly expanded gross margin,” said Michael Spillane, president and CEO of Boston Beer.

“As the macroeconomic climate continues to be challenging, we remain focused on executing our strong operating plans for the summer season, across our core brands and our recently introduced innovations, supported in both cases by targeted advertising investment.”

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Outlook: Based on tariffs announced to date, Boston Beer anticipates an unfavorable cost impact for full-year 2025 of approximately $20 million to $30 million.

The company said it expects shipment trends to be above depletion trends in the second quarter. Boston Beer also guided for full-year 2025 earnings of $8 to $10.50 per share versus estimates of $10.85 per share, according to Benzinga Pro.

SAM Price Action: Boston Beer shares traded as high as $264 in the after-hours session, before pulling back. The stock was up 2.86% following earnings, trading at $249 at the time of publication Thursday, per Benzinga Pro.

Photo: Steve Cukrov/Shutterstock.