NYSE$SAM
Boston Beer Co Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Boston Beer's first quarter results reflected flat depletion trends, revenue growth, and increased gross margin.
Boston Beer reported flat depletions but a 3.9% increase in net revenue to $426.1 million for the first quarter of 2024. Gross margin improved to 43.7%. Net income was $12.6 million, with diluted earnings per share of $1.04. The company repurchased $65.0 million in shares and ended the quarter with $205.4 million in cash and no debt.
- Depletions were flat while shipments increased by 0.9%.
- Net revenue increased by 3.9% to $426.1 million.
- Gross margin improved to 43.7%, up 570 basis points year over year.
- Net income reached $12.6 million, with diluted EPS of $1.04.
Headline financials
Revenue & EPS history
Boston Beer · Revenue · Quarterly
$426M
Forward guidance
The company reiterated its 2024 volume and EPS guidance. The company's actual 2024 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
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
+0.1%
Avg return
Earnings day
+0.7%
Avg return
5 days after
-0.8%
Avg return
30 days after
45%
29 / 65 earnings
Positive
+24.7%
Q2 2020
Best reaction
-24.6%
Q2 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.2% | -12.8% | -25.2% | |
| Q4 2025 | -7.1% | -1.9% | +1.0% | |
| Q3 2025 | +5.7% | -3.0% | -10.8% | |
| Q1 2025 | +2.3% | +1.4% | -4.3% | |
| Q4 2024 | +3.0% | +5.9% | +2.2% | |
| Q3 2024 | -1.8% | -0.9% | +3.7% | |
| Q2 2024 | +7.0% | +2.7% | +3.7% | |
| Q1 2024 | -3.4% | -5.1% | -11.1% | |
| Q4 2023 | -13.3% | -15.3% | -15.3% | |
| Q3 2023 | -14.2% | -10.3% | -8.3% | |
| Q2 2023 | +16.5% | +16.9% | +13.1% | |
| Q1 2023 | +1.8% | -0.2% | +1.9% | |
| Q4 2022 | -13.1% | -14.7% | -19.6% | |
| Q3 2022 | +20.0% | +23.8% | +12.3% | |
| Q2 2022 | +6.6% | +7.8% | +10.1% | |
| Q1 2022 | -2.9% | -0.4% | -8.9% | |
| Q4 2021 | -6.0% | -10.5% | -4.9% | |
| Q3 2021 | +2.8% | -2.2% | -9.1% | |
| Q2 2021 | -24.6% | -23.0% | -36.8% | |
| Q1 2021 | +2.3% | -3.2% | -16.7% | |
| Q4 2020 | -4.3% | -11.7% | -5.2% | |
| Q3 2020 | +19.8% | +18.2% | +3.0% | |
| Q2 2020 | +24.7% | +23.1% | +33.0% | |
| Q1 2020 | +5.9% | +11.3% | +26.7% | |
| Q4 2019 | -7.0% | -4.9% | -28.1% | |
| Q3 2019 | -1.0% | +2.4% | +4.1% | |
| Q2 2019 | +3.3% | +0.3% | +11.3% | |
| Q1 2019 | +8.0% | +9.5% | +20.8% | |
| Q4 2018 | +14.1% | +13.2% | +6.4% | |
| Q3 2018 | -0.3% | +13.7% | +1.2% | |
| Q2 2018 | -15.1% | -15.9% | -4.5% | |
| Q1 2018 | -0.8% | +2.7% | +10.0% | |
| Q4 2017 | -13.6% | -12.4% | -3.3% | |
| Q3 2017 | -7.1% | -1.1% | -1.3% | |
| Q2 2017 | +15.0% | +18.2% | +10.7% | |
| Q1 2017 | -2.4% | -0.1% | +0.4% | |
| Q4 2016 | -6.4% | -6.6% | -11.6% | |
| Q3 2016 | +1.5% | +1.6% | +3.2% | |
| Q2 2016 | +14.6% | +10.5% | +13.8% | |
| Q1 2016 | -10.5% | — | — | |
| Q4 2015 | -4.0% | — | — | |
| Q3 2015 | -10.7% | — | — | |
| Q2 2015 | -0.9% | — | — | |
| Q1 2015 | -7.8% | — | — | |
| Q4 2014 | -10.9% | — | — | |
| Q3 2014 | +8.5% | — | — | |
| Q2 2014 | +1.2% | — | — | |
| Q1 2014 | -1.2% | — | — | |
| Q4 2013 | +1.9% | — | — | |
| Q3 2013 | -6.6% | — | — | |
| Q2 2013 | +13.1% | — | — | |
| Q1 2013 | -13.3% | — | — | |
| Q4 2012 | -4.9% | — | — | |
| Q3 2012 | +8.4% | — | — | |
| Q2 2012 | +1.6% | — | — | |
| Q1 2012 | +0.4% | — | — | |
| Q1 2011 | +5.0% | — | — | |
| Q3 2010 | -0.2% | — | — | |
| Q4 2011 | -0.2% | — | — | |
| Q1 2010 | -0.2% | — | — | |
| Q4 2009 | -0.2% | — | — | |
| Q2 2011 | -0.2% | — | — | |
| Q3 2011 | +11.9% | — | — | |
| Q4 2010 | -3.6% | — | — | |
| Q2 2010 | -3.6% | — | — |
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