Education
About Us
Working with TipRanks
Follow Us
Boston Beer Company (SAM)
NYSE:SAM
Earnings Data
Report Date
Apr 23, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
1.96Last Year’s EPS
2.16Same Quarter Last Year
Based on 11 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
Balanced. The company delivered strong margin expansion, significant cash generation, successful new-product scale (notably Sun Cruiser), and manufacturing/operational improvements that enabled increased brand investment and share repurchases. However, top-line pressure persisted with declines in depletions, revenue and key legacy brands (Twisted Tea, Truly), plus macro and tariff-related cost risks. Management has provided disciplined guidance and a plan to invest behind innovations while continuing productivity initiatives, but volume recovery is uncertain in the near term.Company Guidance
Gross Margin Expansion
Full year 2025 gross margin expanded 410 basis points to 48.5% (50% excluding contractual prepayments and shortfall fees), the highest full-year gross margin since 2019; Q4 gross margin improved 360 basis points year-over-year to 43.5% driven by brewery efficiencies, procurement savings, price/mix and lower inventory obsolescence.
Strong Cash Generation and Balance Sheet Position
2025 free cash flow of $216 million ($19.72 per share) and operating cash flow of $270 million; ended year with $223 million in cash and no debt, providing flexibility for reinvestment and capital returns.
Aggressive Share Repurchases
Repurchased $200 million in shares during 2025 and $214 million since January 2025; approximately $215 million remains available under the $1.6 billion authorization.
Successful Innovation — Sun Cruiser
Sun Cruiser achieved a rapid national scaling: volumes grew over 300% year-over-year (2024 to 2025), became a top-5 RTD spirits brand and among top volume gainers in RTD spirits in 2025; on-premise accounts for over 40% of its volume and the brand is both revenue- and margin-accretive.
Improved Manufacturing and Insourcing
Full year 2025 domestic internal production increased to 86% of volume (from 74% prior year); Q4 internal production reached 99% vs 85% year-ago, improving capacity and reducing reliance on third-party production.
Inventory and Service Improvements
Record-high customer service levels and lower inventory days on hand; obsolete inventory reduced 71% in Q4 and 48% for the full year; distributor inventory approximately four weeks on hand as of Dec 27, 2025.
Profitability and EPS Performance
Adjusted EPS of $9.89, up 4.7% year-over-year (excluding prior year impairment and one-time contract settlement charges), achieved despite a $61 million increase in advertising spend.
Clear 2026 Margin and Investment Guidance
Guidance for 2026 gross margin of 48%–50%, plan to increase advertising/promotional spend by $20M–$40M, price increases of 1%–2%, CapEx of $70M–$90M, and EPS target of $8.50–$11, showing disciplined planning to balance investment and margin.
SAM Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
SAM Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 24, 2026 | $227.45 | $217.76 | -4.26% |
Oct 23, 2025 | $219.63 | $231.60 | +5.45% |
Jul 24, 2025 | $201.81 | $215.00 | +6.54% |
Apr 24, 2025 | $242.40 | $247.89 | +2.26% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Boston Beer Company (SAM) report earnings?
Boston Beer Company (SAM) is schdueled to report earning on Apr 23, 2026, After Close (Confirmed).
What is Boston Beer Company (SAM) earnings time?
Boston Beer Company (SAM) earnings time is at Apr 23, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is SAM EPS forecast?
SAM EPS forecast for the fiscal quarter 2026 (Q1) is 1.96.
