Boston Beer (NYSE:SAM) earnings for the alcohol company’s fourth quarter of 2019 have SAM stock on the move after markets closed on Wednesday. This is after reporting diluted earnings per share (EPS) of $1.12 on net revenue of $301.3 million. For comparison, Wall Street was expecting EPS of $1.47 on revenue of $280.55 million.
Here’s what else is worth mentioning from the most recent Boston Beer earnings report.
- Diluted EPS is down 39.79% from $1.86 during the same period of the year prior.
- Net revenue for the quarter comes in 33.78% higher than the $225.22 million from the fourth quarter of 2018.
- Operating income of $17.7 million is a 38.65% drop year-over-year from $28.85 million.
- The Boston Beer earnings report also has net income coming in at $13.76 million.
- That’s a 36.91% decrease compared to its net income of $21.81 million from the same time last year.
Jim Koch, Founder and chairman of Boston Beer, said this about the SAM stock earnings report:
“We are happy to report 25% fourth quarter depletions growth, of which 19% is from Boston Beer legacy brands and 6% is from the addition of Dogfish Head brands. We are making good progress on the Dogfish Head integration and have merged our sales forces and our business processes and systems.”
The Boston Beer earnings report also includes its outlook for 2020. It is expecting adjusted EPS for the year to range from $10.70 to $11.70. Wall Street’s estimate for that period is per-share earnings of $11.71.
SAM stock was down more than 8% after-hours Wednesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.