Boston Beer (NYSE:SAM) Releases Quarterly Earnings Results, Misses Expectations By $0.32 EPS

Key Points

• Q3 miss: Boston Beer reported EPS of $1.64, missing the consensus by $0.32, and posted revenue of $433.93 million, slightly below estimates.
• The company updated its FY2026 guidance to 8.500–10.500 EPS, signaling management expects stronger full-year results despite the quarterly shortfall.
• Shares traded near $236.87 midday, but analysts show mixed views — the consensus is a Reduce rating with an average target of $232.30, even as some firms (e.g., UBS) raised targets and others downgraded the stock.

Boston Beer (NYSE:SAM - Get Free Report) released its quarterly earnings data on Thursday. The company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.96 by ($0.32), FiscalAI reports. Boston Beer had a net margin of 5.20% and a return on equity of 12.16%. The company had revenue of $433.93 million during the quarter, compared to the consensus estimate of $436.77 million. Boston Beer updated its FY 2026 guidance to 8.500-10.500 EPS.

Boston Beer Stock Performance

SAM traded up $0.38 during mid-day trading on Thursday, reaching $236.87. 216,313 shares of the stock were exchanged, compared to its average volume of 183,754. The stock has a market capitalization of $2.47 billion, a PE ratio of 24.32, a price-to-earnings-growth ratio of 2.30 and a beta of 0.90. The company has a 50 day moving average price of $234.96 and a two-hundred day moving average price of $218.89. Boston Beer has a 1 year low of $185.34 and a 1 year high of $264.46.

Hedge Funds Weigh In On Boston Beer

A number of hedge funds have recently bought and sold shares of SAM. AQR Capital Management LLC increased its position in shares of Boston Beer by 340.4% during the 3rd quarter. AQR Capital Management LLC now owns 647,060 shares of the company's stock valued at $136,801,000 after purchasing an additional 500,120 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Boston Beer by 5.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 271,516 shares of the company's stock worth $52,981,000 after buying an additional 13,113 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Boston Beer by 1.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 265,779 shares of the company's stock worth $56,191,000 after buying an additional 3,336 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Boston Beer by 1.9% in the 4th quarter. Invesco Ltd. now owns 117,112 shares of the company's stock worth $22,852,000 after buying an additional 2,223 shares during the last quarter. Finally, Qube Research & Technologies Ltd boosted its holdings in shares of Boston Beer by 278.0% in the 2nd quarter. Qube Research & Technologies Ltd now owns 112,507 shares of the company's stock worth $21,467,000 after buying an additional 82,742 shares during the last quarter. 81.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on SAM. UBS Group boosted their price target on shares of Boston Beer from $230.00 to $250.00 and gave the company a "neutral" rating in a research note on Tuesday, April 7th. Morgan Stanley decreased their price target on shares of Boston Beer from $245.00 to $235.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 25th. Weiss Ratings lowered shares of Boston Beer from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, February 25th. Royal Bank Of Canada restated a "sector perform" rating and set a $245.00 price target on shares of Boston Beer in a research note on Friday, February 20th. Finally, Zacks Research upgraded shares of Boston Beer from a "strong sell" rating to a "hold" rating in a research note on Thursday, April 23rd. Ten equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Reduce" and an average target price of $232.30.

Boston Beer Company Profile

The Boston Beer Company, Inc NYSE: SAM is a leading craft brewer headquartered in Boston, Massachusetts. Since its founding in 1984 by Jim Koch, the company has focused on producing high-quality, distinctive beers and beverages for retail, on-premise, and distribution partners across the United States. Its operations include brewing, packaging, marketing and distribution, supported by a network of wholly owned brewing facilities and strategic partnerships with regional breweries.

Boston Beer's flagship brand, Samuel Adams Boston Lager, helped establish the modern U.S.

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