The 10-second takeaway
For the quarter ended March 30 (Q1), Boston Beer beat expectations on revenues and whiffed on earnings per share.
Compared to the prior-year quarter, revenue increased significantly. GAAP earnings per share shrank.
Margins dropped across the board.
Boston Beer logged revenue of $135.9 million. The four analysts polled by S&P Capital IQ wanted to see net sales of $131.3 million on the same basis. GAAP reported sales were 20% higher than the prior-year quarter's $113.3 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 $0.51. The six earnings estimates compiled by S&P Capital IQ averaged $0.62 per share. GAAP EPS of $0.51 for Q1 were 8.9% lower than the prior-year quarter's $0.56 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 49.9%, 470 basis points worse than the prior-year quarter. Operating margin was 7.1%, 340 basis points worse than the prior-year quarter. Net margin was 5.1%, 150 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $170.4 million. On the bottom line, the average EPS estimate is $1.28.
Next year's average estimate for revenue is $661.4 million. The average EPS estimate is $4.97.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Boston Beer is underperform, with an average price target of $139.00.
Is Boston Beer the best beverage bet for you? Learn how to maximize your investment income and "Secure Your Future With 9 Rock-Solid Dividend Stocks," including one above-average beverage seller. Click here for instant access to this free report.
- Add Boston Beer to My Watchlist.