Earnings summaries and quarterly performance for BOSTON BEER CO.
Executive leadership at BOSTON BEER CO.
Michael Spillane
Chief Executive Officer
Annette Fritsch
Chief Product Design Officer
Carolyn O’Boyle
Chief People Officer
Diego Reynoso
Treasurer and Chief Financial Officer
Jim Koch
Chairman
Lesya Lysyj
Chief Marketing Officer
Matthew Murphy
Chief Accounting Officer and Vice President of Finance
Michael Crowley
Chief Sales Officer
Philip Hodges
Chief Supply Chain Officer
Sam Calagione
Founder and Brewer
Tara Heath
Chief Legal Officer & General Counsel
Board of directors at BOSTON BEER CO.
Research analysts who have asked questions during BOSTON BEER CO earnings calls.
Eric Serotta
Morgan Stanley
6 questions for SAM
Filippo Falorni
Citigroup Inc.
6 questions for SAM
Robert Ottenstein
Evercore ISI
6 questions for SAM
Peter Grom
UBS Group
5 questions for SAM
Bonnie Herzog
Goldman Sachs
4 questions for SAM
Bill Kirk
Roth Capital Partners, LLC
3 questions for SAM
Michael Lavery
Piper Sandler & Co.
3 questions for SAM
Nadine Sarwat
Bernstein
3 questions for SAM
Nik Modi
RBC Capital Markets
2 questions for SAM
William Kirk
ROTH MKM
2 questions for SAM
Gerald Pascarelli
Needham & Company
1 question for SAM
Kaumil Gajrawala
Jefferies
1 question for SAM
Stephen Powers
Deutsche Bank
1 question for SAM
Recent press releases and 8-K filings for SAM.
- Jim Koch has returned as CEO, with Phil Hodges appointed Chief Operating Officer, to focus on innovation, brand investment, and margin improvement initiatives.
- For Q3 2025, depletions decreased 3% and shipments decreased 13.7% year-over-year, resulting in an 11.2% decrease in revenue. Gross margin improved significantly to 50.8%, the highest since 2018, driven by procurement savings, improved brewery efficiencies, and price increases.
- The company updated its full-year 2025 guidance, narrowing volume expectations to down mid-single digits. Gross margin guidance was raised to 47%-48% (from 46%-47.3%), and EPS guidance was revised to $7.80-$9.80 (from $6.72-$9.54). Advertising, promotional, and selling expenses are now expected to increase by $50 million-$60 million.
- Despite industry headwinds like economic uncertainty and moderation trends, Sun Cruiser was a top volume gainer in RTD spirits and is expected to see strong double-digit or even triple-digit growth in 2026. However, Twisted Tea dollar sales are down 5% year-to-date in measured off-premise channels, impacted by macroeconomic factors and competition.
- The company repurchased over $160 million in shares year-to-date , including $50 million during the 13-week period ended September 27, 2025, and an additional $12.1 million through October 17, 2025.
- Jim Koch has stepped back into the CEO role, with Phil Hodges named Chief Operating Officer.
- For Q3 2025, depletions decreased 3%, shipments decreased 13.7%, and revenue decreased 11.2% year-over-year, while gross margin increased to 50.8%.
- Year-to-date (first nine months of 2025), depletions were down 3%, gross margin was 49.7%, and EPS was $11.82.
- The company updated its full-year 2025 guidance, narrowing volume to down mid-single digits, raising gross margin to 47% to 48%, and revising EPS to $7.80 to $9.80.
- The company repurchased over $160 million in shares year to date , including $50 million in the 13 weeks ended September 27, 2025, and an additional $12.1 million through October 17, 2025.
- 2025 Annual Meeting: The company held its Annual Meeting on May 14, 2025, where new Class A and Class B directors were elected and an advisory vote approved executive compensation policies.
- Board & Trading Developments: On May 13, 2025, board committee appointments were announced, including the reappointment of the Lead Director, alongside the adoption of a 10b5-1 trading plan and a $50 million share repurchase plan.
- Net revenue increased 6.5% to $453.9 million and net income surged by 93.8% to $24.4 million in Q1 2025, indicating strong performance compared to the prior year.
- Gross margin improved to 48.3%, up by 460 basis points, with operational efficiencies augmented by a year-to-date share repurchase of $61 million.
- The report, released via Form 8-K on April 24, 2025, underscores a robust balance sheet and positive earnings momentum.
Quarterly earnings call transcripts for BOSTON BEER CO.
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