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BOSTON - Boston Beer Company (NYSE:SAM) reported a wider-than-expected loss for the fourth quarter of 2024, though revenue topped analyst estimates. The company also provided guidance for fiscal year 2025.
The craft beer maker posted a Q4 adjusted loss of $1.68 per share, missing the analyst consensus estimate of a $1.24 loss. Revenue came in at $402.3 million, surpassing expectations of $392.52 million and representing a 2.2% increase YoY.
For the full year 2024, Boston Beer reported adjusted earnings of $9.43 per share on revenue of $2.01 billion, up 0.2% from 2023.
"The fourth quarter provided a solid finish to 2024 with flat depletions, gross margin expansion and strong cash generation," said President and CEO Michael Spillane.
Looking ahead, the company expects FY 2025 depletions and shipments to range from down low single digits to up low single digits. Boston Beer projects GAAP earnings per share of $8.00 to $10.50 for the year.
The company plans to increase advertising, promotional and selling expenses by $30 million to $50 million in 2025 compared to 2024 levels. Gross margin is forecast between 45% and 47%.
Boston Beer ended 2024 with $211.8 million in cash and no debt. The company repurchased $239 million of stock during the year.
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