Boston Beer (NYSE:SAM) Announces FY 2026 Earnings Guidance

Key Points

• Boston Beer raised its FY 2026 non-GAAP EPS guidance to $9.00–$10.50, above the approximately $8.94 analyst consensus.
• Third-quarter non-GAAP EPS was $4.37, beating expectations, while gross margin improved to 51.7%; the company also held $308.1 million in cash, no debt, and repurchased $79.5 million of shares.
• Demand remained pressured, with depletions down 5%, shipments down 4.9%, and revenue down 3.2% year over year. Analysts’ consensus rating was “Reduce,” with an average price target of $205.09.

Boston Beer (NYSE:SAM - Get Free Report) updated its FY 2026 earnings guidance on Friday morning. The company provided earnings per share guidance of 9.000-10.500 for the period, compared to the consensus estimate of 8.940.

Boston Beer Price Performance

Boston Beer stock opened at $196.94 on Friday. Boston Beer has a 1-year low of $158.68 and a 1-year high of $264.46. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of -29.01 and a beta of 0.82. The firm has a 50 day simple moving average of $174.91 and a 200-day simple moving average of $187.03.

Boston Beer (NYSE:SAM - Get Free Report) last posted its earnings results on Thursday, October 22nd. The company reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.21 by $0.16. Boston Beer had a positive return on equity of 9.99% and a negative net margin of 3.42%. The company had revenue of $520.10 million during the quarter, compared to analysts' expectations of $522.95 million. During the same quarter last year, the firm earned $4.25 earnings per share. The firm's quarterly revenue was down 3.2% compared to the same quarter last year. Equities analysts expect that Boston Beer will post 8.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Sanford C. Bernstein restated a "market perform" rating and set a $195.00 target price on shares of Boston Beer in a report on Monday, July 27th. UBS Group reiterated a "neutral" rating on shares of Boston Beer in a research note on Friday, October 16th. Wall Street Zen upgraded Boston Beer from a "sell" rating to a "hold" rating in a research note on Saturday, July 25th. Roth Capital reaffirmed a "buy" rating and set a $295.00 price target (down from $315.00) on shares of Boston Beer in a report on Friday, July 24th. Finally, Deutsche Bank Aktiengesellschaft set a $176.00 price objective on Boston Beer in a research report on Friday, July 24th. One investment analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Reduce" and an average price target of $205.09.

Key Headlines Impacting Boston Beer

Here are the key news stories impacting Boston Beer this week:

• Positive Sentiment: Boston Beer reported third-quarter non-GAAP EPS of $4.37, exceeding the $4.21 consensus estimate and rising from $4.25 a year earlier. The company also raised its 2026 non-GAAP EPS outlook to $9.00–$10.50, above the prior analyst expectation of approximately $8.90. Boston Beer projects 2026 non-GAAP EPS of $9 to $10.50 while narrowing volume outlook to down mid-single digits
• Positive Sentiment: Gross margin improved to 51.7%, up 90 basis points year over year, while the company produced 98% of domestic volume internally. Boston Beer ended the quarter with $308.1 million in cash and no debt and repurchased $79.5 million of shares since late December, supporting per-share earnings and signaling management’s confidence in the balance sheet. Boston Beer: 3 Key Takeaways for Long-Term Investors
• Neutral Sentiment: Revenue totaled $520.1 million, broadly near expectations, while GAAP diluted EPS was $4.21 after a $0.16-per-share nonrecurring litigation expense. Year-to-date non-GAAP EPS reached $9.64, but GAAP results included substantial litigation-related charges. Boston Beer Reports Third Quarter Financial Results
• Negative Sentiment: Demand remains weak: third-quarter depletions fell 5%, shipments declined 4.9%, and revenue decreased 3.2% year over year. Boston Beer narrowed its 2026 volume outlook to a mid-single-digit decline, while quarterly profit fell to $43.2 million from $46.2 million amid a challenging beer market. Boston Beer Logs Lower Profit, Revenue Amid Bleak Beer Market

Boston Beer Company Profile

Boston Beer Company, Inc is an American beverage company that develops, produces, and sells alcoholic beverages. The company is best known for its Samuel Adams craft beer brand, which includes Boston Lager and a range of seasonal, specialty, and limited-release beers.

Its portfolio also includes Twisted Tea hard iced tea, Truly Hard Seltzer, Angry Orchard hard cider, and beverages associated with Dogfish Head, which Boston Beer acquired in 2019. The company offers products across several categories, including beer, flavored malt beverages, hard seltzer, and hard cider, with offerings distributed primarily through wholesalers, retailers, restaurants, and other on-premise establishments.

Founded in 1984 by Jim Koch, Boston Beer helped expand the U.S.

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