Boston Beer misses Q3 revenue estimates

Boston Beer

23/10/2025 21:28

Overview

Boston Beer Q3 revenue fell 11.2%, missing analyst expectations

Net income for Q3 increased by $12.6 mln, despite revenue decline

Company repurchased $161 mln in shares year-to-date, reflecting strong balance sheet

Outlook

Boston Beer raises 2025 gross margin guidance to 47%-48% from 46%-47.3%

Company increases 2025 EPS guidance to $7.80-$9.80 from $6.72-$9.54

Boston Beer lowers 2025 tariff cost impact to $9-$13 mln from $15-$20 mln

Result Drivers

BRAND PERFORMANCE - Declines in Twisted Tea, Truly Hard Seltzer, and Samuel Adams offset by growth in Sun Cruiser and Angry Orchard

GROSS MARGIN IMPROVEMENT - Improved gross margin driven by procurement savings, brewery efficiencies, price increases, and favorable product mix

ADVERTISING SPENDING - Increased advertising and promotional expenses due to brand media and local marketing investments

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Miss
$537.50 mln
$541.93 mln (10 Analysts)
Q3 Net Income
$46.20 mln
Q3 Gross Margin
50.80%


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 11 "hold" and 2 "sell" or "strong sell"

The average consensus recommendation for the brewers peer group is "buy."

Wall Street's median 12-month price target for Boston Beer Company Inc is $230.00, about 4.8% above its October 21 closing price of $219.01

The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 19 three months ago

Press Release: ID:nGNX2zlT6T

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)