BOSTON BEER CO INC — Form 8-K
Filed October 22, 2026 · analyzed by the 8-K Agent
8-K
▼ Likely negative
significance 62/100
What the filing says
Boston Beer reported Q3 2026 net revenue of $520.1M (down 3.2% YoY) on depletions down 5% and shipments of 1.8M barrels down 4.9%. The company accrued a $191.0M supplier dispute judgment (pre- and post-judgment interest combined $194.5M year-to-date), reducing YTD earnings per share by $14.51 after-tax. Gross margin improved 90 bps to 51.7% driven by pricing and procurement savings despite volume declines. Full-year guidance raised: gross margin 49-50% (from 48.5-50%), non-GAAP EPS $9.00-$10.50 (from $8.50-$10.50), depletions expected down mid-single digits. Cash position: $308.1M with no debt; $79.5M in share buybacks YTD; $149M remaining on $1.6B authorization.
Why this rating
Litigation liability (~12% of market cap) is significant; volume contraction is material; but operational improvements and strong cash flow partially offset the impact.
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