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Investing.com -- Boston Beer Company (NYSE:SAM) shares rose 2.6% after the craft brewer reported first-quarter earnings and revenue that surpassed analyst expectations, driven by strong performance across its diversified brand portfolio.
The maker of Samuel Adams beer posted adjusted earnings per share of $2.16 for the quarter ended March 29, 2025, significantly beating the analyst consensus of $0.63. Revenue came in at $453.8 million, topping estimates of $436.34 million and representing a 6.5% YoY increase.
Despite a 1% decrease in depletions, shipment volume rose 5.3% to approximately 1.7 million barrels. The company attributed this growth primarily to increases in its Sun Cruiser, Hard Mountain Dew, and Twisted Tea brands, partially offset by declines in the Truly brand.
Gross margin expanded significantly to 48.3%, up 460 basis points YoY, benefiting from price increases, procurement savings, and improved brewery efficiencies.
"Our first quarter performance reflects a solid start to the year as we increased our market share and significantly expanded gross margin," said President and CEO Michael Spillane.
The company reiterated its full-year 2025 guidance, projecting GAAP EPS between $8.00 and $10.50. Boston Beer expects depletions and shipments to range from a low single-digit decrease to a low single-digit increase for the year.
Boston Beer ended the quarter with $152.5 million in cash and no debt. The company repurchased $61 million in shares from December 30, 2024, to April 18, 2025, demonstrating confidence in its financial position.
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