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302.77
1.89%
-5.82
After Hours:
296.91
-5.86
-1.94%
Why is Boston Beer Co Inc (SAM) Stock down?
We've noticed a 5.05% decline in Boston Beer Co Inc (SAM) stock during the 2024-10-25 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
27 Oct, 2023:
Boston Beer Company Stock (SAM) dropped by 12.40% from $364.88 to $319.64 in the trading on Friday October 27, 2023. The reason why SAM stock down today include
- Third-quarter financial results. Investors were primarily disappointed with the company's profits and outlook. In Q3, the company's net revenue was up less than 1% year over year at $601.6 million. Q3 net income was only $45.3 million, lower than estimates. Higher salaries and other inflationary expenses limited some improvements to profitability.
- Lower guidance: Boston Beer's management says it expects a 5% to 7% drop in shipments. And it narrowed its earnings per share (EPS) range to $6.04 to $8.04. Both of these ranges are inside of its previous guidance, but the potential upside is lower than it was before, which was disappointing for investors.
0.43%
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