Boston Beer reports Q3 EPS $4.25, consensus $3.34

Reports Q3 revenue $537.5M, consensus $541.97M. “Our depletions declined by 3% in the third quarter as volumes were pressured across the beer industry” said chairman, founder and CEO Jim Koch. “While the macroeconomic environment remains dynamic, we are encouraged by the positive consumer reaction to our Sun Cruiser brand innovation and a second consecutive quarter of growth in Angry Orchard. We are continuing to invest in advertising and innovation across our portfolio of brands to grow market share and position ourselves well for when the consumer environment improves. Our strong balance sheet allows us to make this investment while also returning $161M in cash to shareholders year to date.”