E-Malt.com News article: USA: Boston Beer logs lower profit and revenue in the third quarter

Boston Beer logged lower profit and revenue in the third quarter as demand for beer continues to fall, The Wall Street Journal reported on October 22.

The brewer, which owns the Samuel Adams and Truly brands, posted a profit of $43.2 million, or $4.21 a share, compared with $46.2 million, or $4.25 a share, a year earlier.

Adjusted per-share earnings were $4.37, beating analyst expectations of $3.85

Net revenue, which excludes excise taxes, decreased 3% to $520.1 million. Wall Street analysts expected $522.9 million.

Chief Executive Jim Koch said that overall demand remains tough. “The demand environment remains challenging, and we are prioritizing actions within our control to strengthen our business and improve market share trends,” he said.

Depletions, which measures sales by distributors to retailers and is seen as an indicator of demand, decreased 5%, while shipments fell 4.9% in the third quarter.

Boston Beer now expects depletions to fall at a mid-single digit rate this year, versus its prior guidance for the metric to fall between a low-single-digit and mid-single-digit rate.

It now expects a loss between $5.76 a share to $4.26 a share, compared with its previous forecast of a per-share loss between $6.23 to $4.23.

On an adjusted basis, it expects a per-share profit between $9 and $10.50, raising the bottom end of its prior range by 50 cents. Analysts were looking for $8.90 a share.

The outlook includes expectations for tariff costs between $18 million and $22 million, compared to its prior view for a $20 million to $30 million impact. It also expects advertising, promotion and selling expenses to be roughly flat compared to last year, while its prior guidance assumed an increase of up to $20 million.

Boston Beer shares fell 2.9% in after-hours trading to $190, giving back some gains after finishing the regular trading session up 7.7% to $195.72.


23 October, 2026