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Sep 30, 2023
Boston Beer Q3 2023 Earnings Report
Boston Beer's financial results for the third quarter of 2023 were reported, showing mixed performance with revenue increase and depletion decrease.
Key Takeaways
Boston Beer reported a slight increase in net revenue, but a decrease in depletions. Gross margin improved, and the company generated significant operating cash flow. They also narrowed their revenue and EPS guidance ranges.
Net revenue increased 0.9% to $601.6 million.
Gross margin increased 250 basis points to 45.7%.
Net income was $45.3 million, including non-cash brand impairment charges.
The company generated $131.3 million in operating cash flow.
Boston Beer
Boston Beer
Forward Guidance
The Company is updating the full year volume and earnings guidance previously communicated in its July 27, 2023 Earnings Release.