The 10-second takeaway
For the quarter ended Dec. 29 (Q4), Boston Beer met expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue increased. Non-GAAP earnings per share grew. GAAP earnings per share dropped.
Margins dropped across the board.
Boston Beer notched revenue of $153.0 million. The four analysts polled by S&P Capital IQ wanted to see a top line of $152.5 million on the same basis. GAAP reported sales were 7.7% higher than the prior-year quarter's $142.1 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $1.26. The five earnings estimates compiled by S&P Capital IQ forecast $1.28 per share. Non-GAAP EPS of $1.26 for Q4 were 7.7% higher than the prior-year quarter's $1.17 per share. GAAP EPS of $1.25 for Q4 were 6.0% lower than the prior-year quarter's $1.33 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 52.1%, 430 basis points worse than the prior-year quarter. Operating margin was 17.7%, 90 basis points worse than the prior-year quarter. Net margin was 11.0%, 150 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $126.8 million. On the bottom line, the average EPS estimate is $0.58.
Next year's average estimate for revenue is $653.7 million. The average EPS estimate is $4.94.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Boston Beer is underperform, with an average price target of $124.14.
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