Boston Beer
The 10-second takeaway
For the quarter ended March 31 (Q1), Boston Beer met expectations on revenues and crushed expectations on earnings per share.
Compared to the prior-year quarter, revenue increased and GAAP earnings per share expanded significantly.
Margins improved across the board.
Revenue details
Boston Beer logged revenue of $113.3 million. The six analysts polled by S&P Capital IQ predicted revenue of $112.7 million on the same basis. GAAP reported sales were 11% higher than the prior-year quarter's $102.2 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS details
EPS came in at $0.56. The seven earnings estimates compiled by S&P Capital IQ forecast $0.41 per share. GAAP EPS of $0.56 for Q1 were 100% higher than the prior-year quarter's $0.28 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
Margin details
For the quarter, gross margin was 54.6%, 330 basis points better than the prior-year quarter. Operating margin was 10.5%, 410 basis points better than the prior-year quarter. Net margin was 6.6%, 270 basis points better than the prior-year quarter.
Looking ahead
Next quarter's average estimate for revenue is $150.7 million. On the bottom line, the average EPS estimate is $1.25.
Next year's average estimate for revenue is $558.4 million. The average EPS estimate is $4.14.
Investor sentiment
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Boston Beer is hold, with an average price target of $104.14.
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