Beer company Boston Beer (NYSE: SAM) will be announcing earnings results tomorrow after the bell. Here’s what to expect.
Boston Beer beat analysts’ revenue expectations by 2.4% last quarter, reporting revenues of $402.3 million, up 2.2% year on year. It was a disappointing quarter for the company, with full-year EPS guidance missing analysts’ expectations.
Is Boston Beer a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Boston Beer’s revenue to grow 1.7% year on year to $433.3 million, slowing from the 3.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.69 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Boston Beer has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Boston Beer’s peers in the beverages, alcohol, and tobacco segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Philip Morris delivered year-on-year revenue growth of 5.8%, beating analysts’ expectations by 2.6%, and Constellation Brands reported revenues up 1.2%, topping estimates by 1.9%. Constellation Brands’s stock price was unchanged following the results.
Read our full analysis of Philip Morris’s results here and Constellation Brands’s results here.
Investors in the beverages, alcohol, and tobacco segment have had steady hands going into earnings, with share prices flat over the last month. Boston Beer is up 4.3% during the same time and is heading into earnings with an average analyst price target of $263.87 (compared to the current share price of $243.94).
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