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The Boston Beer Company, Inc., known by its ticker symbol SAM, is a prominent player in the alcoholic beverage industry. The company is engaged in the business of selling alcoholic beverages throughout the United States and selected international markets. SAM produces and sells a variety of alcoholic beverages, including flavored malt beverages, hard seltzer, beer, hard cider, spirits-based ready-to-drink beverages, and distilled spirits.
- Twisted Tea - Offers flavored malt beverages and is recognized as the largest selling flavored malt beverage brand.
- Truly Hard Seltzer - Provides a leading brand in the hard seltzer category, introduced in 2016.
- Samuel Adams - Produces craft beer, known for lagers and seasonal beers, established in 1984.
- Angry Orchard - Delivers hard cider, the largest selling hard cider in the United States since 2013.
- Dogfish Head - Focuses on innovative craft beers and spirits, particularly India Pale Ales (IPAs) and spirits RTDs.
- Sun Cruiser - Offers vodka spirits RTD, introduced in 2024.
- In Q1, you reported a record gross margin improvement for the first time since 2019; can you clarify how much of this improvement is driven by underlying operational initiatives versus the effect of higher shipments, and what guarantees do you have that these improvements will be sustainable throughout 2025?
- With tariffs imposing an estimated unfavorable impact of $20–$30 million and a gross margin hit of 50 to 100 basis points, could you break down the specific cost pressures from aluminum and Chinese-sourced materials and detail the mitigation measures you plan to implement?
- Given the noticeable decline in depletions and challenges in Twisted Tea’s measured channels despite increased marketing spend, what specific steps are you taking to reclaim lost market share and improve regional distribution?
- As distributor inventories built up to support peak selling and innovations like Sun Cruiser gained traction, how do you plan to convert these higher shipment levels into sustainable consumption trends, especially in tracked channels?
- In an environment of weakening consumer confidence and a 1% decline in depletions, how are you revising your strategy to address shifting consumer behaviors, and what targeted initiatives will help drive long-term growth amidst these macroeconomic challenges?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
The company actively participates in both Beyond beer and Traditional beer markets, offering numerous beers, flavored malt beverages, hard seltzers, and spirit RTDs. It has substantially greater financial resources, marketing strength, and distribution networks compared to Boston Beer. | |
This competitor is involved in Beyond beer and Traditional beer markets, providing products such as beers, flavored malt beverages, hard seltzers, and spirit RTDs. It has significant financial resources and marketing capabilities. | |
The company owns the United States distribution rights to Modelo Especial and Corona, which have gained market share over the last ten years. It has substantial financial resources, marketing strength, and distribution networks. | |
This competitor aggressively competes in the United States with imported beers like Heineken and Stella Artois, leveraging its strong financial resources and distribution networks. | |
Mark Anthony Brands | The company competes in the hard seltzer category with its White Claw and White Claw Surge brands, which are priced competitively with Traditional beer and Beyond beer. |
The company has entered the alcoholic beverage market through agreements with Molson Coors to develop, market, and sell Topo Chico Hard Seltzer, Simply Spiked Lemonade, and Peace Hard Tea. It also collaborates with Constellation Brands and Brown Forman for other alcoholic beverages. | |
The company has partnered with Boston Beer to develop, market, and sell Hard Mountain Dew. It also collaborates with FIFCO USA to produce Lipton Hard Iced Tea. | |
The company entered the alcoholic beverage market by acquiring CaNarchy Craft Brewery Collective and launching Beast Unleashed, a flavored malt beverage brand, along with plans for Blind Lemon hard lemonade. | |
Arizona Beverage Company | The company launched Arizona Hard Tea in the United States in 2023 after earlier development and launch in Canadian markets. |
E&J Gallo Winery | The company leads the Spirit Seltzer and Soda sub-category with its High Noon brand, offering lower calorie and lower alcohol Spirits RTDs. |
The company competes in the Spirits-based Canned Cocktails sub-category with its Crown Royal brand, offering beverages with more flavor and higher alcohol content. | |
This global cannabis, craft beer, and spirits beverage company acquired craft brands and breweries from AB InBev and Molson Coors in separate transactions during 2023 and 2024. |
Recent press releases and 8-K filings for SAM.
- 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.