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Boston Beer Q2 Profit up 37%, Aided By Strong Growth in Volume Shipments (SAM)

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Boston Beer Co Inc. (NYSE: SAM) said late on Wednesday that its fiscal second quarter profit rose 37% as it shipped more  volume of beer to wholesalers and distributors. Barrel shipments climbed 17% to 842,000, the brewer said.

Total sales also clocked a double digit growth, aided by higher advertising and promotional spending. Shares jumped 9.50% in afterhours trading as the Company also raised its full-year outlook.

Commenting over the results, Boston Beer Co Inc’s President and CEO, Martin Roper said, “Our business is healthy and we believe that the strength we see in our main brands may well reflect a response to our increased investments in media, local marketing and point of sale and the efforts of our increased sales force.”

For the fiscal second quarter ended June 30, the Company reported earnings of $19.7 million or $1.45 a share compared to a profit of $14.4 million or $1.06 a share, in the same quarter of last year.

Revenue jumped 23% to $181.3 million from $147.5 million, in the same quarter of last year.

Analysts’ consensus estimate was for earnings of $1.34 a share on revenue of $175.4 million, according to a poll conducted by FactSet.

For the full-year fiscal, Boston Beer expects earnings to be in the range of $5.10 to $5.40 a share up from its earlier guidance of $4.70 to $5.10 a share. Analysts’ consensus forecast was for earnings of $4.90 a share.

 








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edliston
Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.

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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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