Boston Beer Co. Inc. (NYSE:SAM) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 9.51%.
Boston Beer Co. Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 36.79% to $1.45 in the quarter versus EPS of $1.06 in the year-earlier quarter.
Revenue: Rose 22.92% to $181.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Boston Beer Co. Inc. reported adjusted EPS income of $1.45 per share. By that measure, the company beat the mean analyst estimate of $1.34. It beat the average revenue estimate of $175.38 million.
Quoting Management: Jim Koch, Chairman and Founder of the Company, commented, “We achieved depletions growth of 24% and record total depletions in the second quarter. Depletions growth in the second quarter improved from our first quarter results of 16%, primarily due to the improved growth of our Samuel Adams Seasonal program and our Samuel Adams Boston Lager. We believe that our depletions growth is attributable to strong sales execution and support from our wholesalers and retailers as well as our great quality beers and strong brands. We were also delighted to learn, that for the fifth year in a row, our wholesalers ranked us the number one beer supplier in the industry, in the annual poll of beer wholesalers conducted by Tamarron Consulting, a consulting firm specializing in the alcohol beverage distribution industry. This is a testament to the efforts of all Boston Beer employees to service and support our wholesalers’ business and to the relationships we have built with them. We continue to innovate and during the quarter we released Samuel Adams Boston Lager and Samuel Adams Summer Ale packaged in our new unique can which has been well received by wholesalers and drinkers and is generally in line with our expectations from a volume perspective.”
Key Stats (on next page)…