Boston Beer Q4 revenue beats expectations despite decline

Boston Beer

24/02/2026 21:50

Overview

Craft brewer's Q4 revenue beat analyst expectations despite a 4.1% decline

Company's Q4 gross margin improved to 43.5% from 39.9% year over year

Company reported Q4 net loss of $22.5 mln

Outlook

Boston Beer projects 2026 EPS between $8.50 and $11.00

Company expects 2026 gross margin of 48% to 50% including tariffs

Boston Beer anticipates 2026 tariff costs of $20 to $30 mln

Result Drivers

BRAND PERFORMANCE - Decreases in Twisted Tea, Truly Hard Seltzer, and Samuel Adams brands drove shipment declines, partially offset by growth in Sun Cruiser, Angry Orchard, and Dogfish Head

GROSS MARGIN IMPROVEMENT - Improved brewery efficiencies, procurement savings, and price increases boosted gross margin, despite tariff and shortfall fee impacts

INCREASED MARKETING SPEND - Higher advertising, promotional, and selling expenses due to increased salaries, brand media, and local marketing investments

Company press release: ID:nGNX3MBy0Z

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
Beat
$385.70 mln
$381.31 mln (9 Analysts)
Q4 EPS
-$2.12
Q4 Net Income
-$22.50 mln
Q4 Gross Margin
43.5%


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 12 "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 $233.50, about 4.2% above its February 23 closing price of $224.16

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

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