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Boston Beer Company Down 17.74% To $304.32 After Earnings Miss

Wednesday, February 28, 2024 02:48 PM | InvestorsObserver Analysts

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Boston Beer Company Down 17.74% To $304.32 After Earnings Miss

Boston Beer Company (SAM) said after close Tuesday that it lost $1.49 per share in quarter four 2023.

On the revenue line, the company reported $393.7 million, missing estimates by $20.1 million.

In the same quarter a year ago, the company lost $0.93 per share on revenue of $447.5 million.

The stock is down 17.74% to $304.32 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

The average recommendation from Wall Street analysts was a Hold which may get revised based on this new data.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Boston Beer Company has performed a little above average during the past few months. Before the report, Boston Beer Company received a Long-Term Technical Rank by InvestorsObserver of 63, putting it in the top half of stocks. The firm set a 52-week high on October 2, 2023 at $395.52 and set a 52-week low on July 19, 2023 at $296.27.

Boston Beer is a leader in U.S. high-end malt beverages and adjacent categories, with strong positions in craft beer, hard cider, and hard seltzer. The firm sells an array of flavor variants and package sizes, predominantly centered around four priority brands: Samuel Adams, Angry Orchard, Twisted Tea, and Truly Hard Seltzer. Its drinks are produced in both company-owned breweries as well as through third-party contract arrangements, and while the company primarily goes to market through independent wholesalers (as mandated by law), it operates a fairly large salesforce to induce demand across the value chain (distributors, retailers, and drinkers). The preponderance of revenue is generated domestically.

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