Boston Beer's third-quarter revenue falls 3.2 percent to $520.1m as it trims its tariff cost estimate
Volumes are still shrinking at the maker of Samuel Adams. Boston Beer said depletions, its measure of sales from distributors to retailers, fell 5 percent in the quarter to September 26, and net revenue dropped 3.2 percent to $520.1m, according to results filed with the SEC after the close on Thursday.
Twisted Tea, Truly and Samuel Adams all declined. Sun Cruiser and Angry Orchard grew. Gross margin widened to 51.7 percent from 50.8 percent on mix, price increases and brewery savings, and adjusted earnings came to $4.37 a share, or $4.21 on a reported basis.
The company now expects 2026 volumes to fall by a mid-single-digit percentage, the weaker end of its earlier range. It cut its estimate of tariff costs for the year to $18m to $22m from $20m to $30m, net of a $3m refund received in the quarter, and raised the bottom of its adjusted earnings guidance to $9.00 a share, keeping the top at $10.50.
The supplier dispute behind the $175.5m judgment booked this year is still running. Boston Beer denies breaching the contract and says it intends to pursue post-trial motions and appeals.
