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Sep 24, 2022
Boston Beer Q3 2022 Earnings Report
Reported financial results for the third quarter of 2022, showing increased net revenue and improved gross margin, but a decrease in depletions.
Key Takeaways
Boston Beer reported a mixed third quarter, with net revenue increasing by 6.2% to $596.5 million and gross margin improving to 43.2%. However, depletions decreased by 6%, driven by declines in Truly Hard Seltzer, Angry Orchard, Samuel Adams, and Dogfish Head brands, partially offset by growth in Twisted Tea and Hard Mountain Dew. The company narrowed its full-year 2022 financial guidance, reflecting the dynamic operating environment.
Net revenue increased by 6.2% to $596.5 million compared to the third quarter of 2021.
Gross margin improved to 43.2% due to increased pricing and comparisons against costs recorded in the third quarter of 2021.
Depletions decreased by 6%, with declines in Truly Hard Seltzer, Angry Orchard, Samuel Adams, and Dogfish Head brands.
The company narrowed its full-year 2022 financial guidance, reflecting the dynamic operating environment and inflationary impacts.
Forward Guidance
The Company has narrowed the range of its full year 2022 projections. The Company’s actual 2022 results could vary significantly from the current projection and are highly sensitive to changes in volume projections particularly related to the hard seltzer category and supply chain performance as well as inflationary impacts.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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