Boston Beer Reports Q1 Earnings with Litigation Charge and Volume Declines
The Boston Beer Company (NYSE:SAM) reported a $216 million pre-tax litigation charge in the first quarter, negatively impacting GAAP EPS by $15.52 while non-GAAP EPS was $1.64. The company faces volume pressure with Q1 depletions down 4% and shipments declining 6.9%. Boston Beer narrowed its full-year guidance for both volume and earnings due to ongoing macroeconomic challenges.
Tickers: $SAM
Topics: beer litigation charge RTD (ready-to-drink) volume guidance