Boston Beer Q4 Earnings Call Highlights

8 months ago 43

MarketBeat

Wed, February 25, 2026 astatine 5:06 AM CST 8 min read

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Boston Beer delivered notable borderline enlargement and beardown currency procreation successful 2025, with full-year gross borderline astatine 48.5% (50% excluding definite items), escaped currency travel of $216 million, $200 cardinal of stock repurchases, $223 cardinal currency connected manus and nary debt.
Brand premix was a cardinal driver: Sun Cruiser grew volumes implicit 300% and scaled into a top-five RTD spirits brand, portion Twisted Tea and Truly experienced softness prompting pricing adjustments, SKU focus, and accrued selling support.
For 2026 absorption expects depletions flat to down mid-single-digits, plans terms increases of 1–2%, sees reported gross borderline of 48–50%, anticipates $20–30 cardinal of tariff headwinds, higher advertizing spend, and EPS of $8.50–$11.
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Boston Beer (NYSE:SAM) executives highlighted borderline gains, beardown currency generation, and continued concern down cardinal brands during the company’s 2025 fourth-quarter net call, portion acknowledging that category-wide measurement pressures and a cautious user situation are apt to persist into 2026.

Founder, CEO and Chairman Jim Koch said the institution delivered connected its fiscal commitments successful a “challenging manufacture measurement environment,” with 2025 depletions down 4%, which helium characterized arsenic successful enactment with the wide brew industry. He credited the company’s “fewer things, amended innovation” approach, including the nationalist motorboat of Sun Cruiser, which absorption described arsenic some gross and borderline accretive.

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CFO Diego Reynoso said 2025 gross declined 2.4% year-over-year, driven by shipments down 4.7% and partially offset by 2.3 percent points of affirmative terms and mix. Price realization was wrong the company’s anterior guidance of 1% to 2%, with the remainder attributed to mix.

Boston Beer reported 410 ground points of gross borderline enlargement to 48.5% for the afloat year, inclusive of $10.1 cardinal successful tariff costs. Reynoso added that excluding contractual prepayments and shortfall fees, gross borderline was 50%, which helium called the highest full-year gross borderline complaint since 2019. The institution besides accrued advertizing walk by $61 cardinal successful 2025 portion holding wide and administrative expenses flat, and delivered EPS of $9.89, up 4.7% year-over-year excluding prior-year impairment and one-time declaration colony charges.

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