Boston Beer stock obliterated as hard seltzer hit [FOX Business Network]
Boston Beer Company, Inc. (The) (SAM)
Last boston beer company, inc. (the) earnings: 4/22 04:15 pm
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Source: FOX Business Network
Boston Beer, the maker of Sam Adams and Truly hard seltzer, is seeing its shares take a beating after management disclosed it overestimated the hard seltzer craze. Ticker Security Last Change Change % SAM BOSTON BEER CO., INC. Powered By The drop in the shares Friday, north of 20%, are on pace for one of the worst percentage declines on record. "We overestimated the growth of the hard seltzer category in the second quarter and the demand for Truly, which negatively impacted our volume and earnings for the quarter and our estimates for the remainder of the year," said Boston Beer CEO Dave Burwick during the earnings investor call. The company is now sitting with more inventory than it would like in what has become a crowded category in stores. TEXAS CONSIDERS BANNING BEN & JERRY'S The outlook for Truly remains "uncertain" for the rest of 2021. At least six Wall Street firms, including Goldman Sachs, Morgan Stanley and RBC, cut price targets on the stock, wh
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News
- Looking For Low Carb Beers? They Do Exist! Here Are Some Suggestions [Forbes]Forbes
- Harvard's startup whisperer, Peter Gladstone, reveals secrets to validating consumer demand at TechCrunch Early Stage [TechCrunch]TechCrunch
- The Boston Beer Company Debuts First-of-its-Kind Non-Alc Beverage, General Admission, Available Now via Direct-to-Consumer Shipping [Yahoo! Finance]Yahoo! Finance
- The Boston Beer Company Debuts First-of-its-Kind Non-Alc Beverage, General Admission, Available Now via Direct-to-Consumer ShippingGlobeNewswire
- Can Boston Beer (SAM) Beat on Q1 Earnings Despite Cost Woes? [Yahoo! Finance]Yahoo! Finance
SAM
Earnings
- 2/27/24 - Miss
SAM
Sec Filings
- 4/2/24 - Form 4
- 4/2/24 - Form 4
- 3/28/24 - Form ARS
- SAM's page on the SEC website