USA: Boston Beer’s Q1 results beat analysts’ expectations
Beer company Boston Beer reported Q1 CY2024 results beating Wall Street analysts' expectations , with revenue up 10.3% year on year to $452.2 million. It made a GAAP profit of $1.04 per share, improving from its loss of $0.73 per share in the same quarter last year, Yahoo Finance reported on April 25.
Boston Beer Q1 CY2024 Highlights:
Revenue: $452.2 million vs analyst estimates of $412.3 million (9.7% beat)
Operating profit: $15.3 million vs analyst estimates of roughly breakeven (large beat)
EPS: $1.04 vs analyst estimates of $0 (39,947% beat)
EPS guidance for full year 2024 maintained from previous ($9.00 at the midpoint, below current expectations)
Gross Margin (GAAP): 47%, up from 38% in the same quarter last year
Free Cash Flow was -$20.62 million, down from $17.44 million in the previous quarter
Market Capitalization: $3.49 billion
“I’m thrilled to have recently joined Boston Beer as CEO,” said President and CEO Michael Spillane.
Known for its flavorful beverages challenging the status quo, Boston Beer is a pioneer in craft brewing and a symbol of American innovation in the alcoholic beverage industry.
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