Boston Beer (NYSE:SAM) Issues FY 2026 Earnings Guidance

Boston Beer (NYSE:SAM) updated its FY 2026 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 8.500-10.500 for the period, compared to the consensus estimate of 9.980. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SAM. Weiss Ratings downgraded Boston Beer from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, February 25th. Royal Bank Of Canada cut their price objective on Boston Beer from $245.00 to $242.00 and set a “sector perform” rating for the company in a report on Friday. Wall Street Zen upgraded Boston Beer from a “sell” rating to a “hold” rating in a report on Sunday, April 12th. Jefferies Financial Group set a $230.00 target price on Boston Beer in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $233.00 price objective on shares of Boston Beer in a research note on Friday. Ten investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $240.64.

Boston Beer Trading Down 9.0%

SAM stock traded down $21.40 during mid-day trading on Friday, hitting $215.64. The stock had a trading volume of 577,681 shares, compared to its average volume of 187,311. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of 22.14, a PEG ratio of 2.26 and a beta of 0.90. The company has a fifty day moving average of $235.05 and a 200 day moving average of $219.01. Boston Beer has a 1-year low of $185.34 and a 1-year high of $264.46.

Boston Beer (NYSE:SAM) last issued its quarterly earnings data on Thursday, April 30th. The company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.32). The company had revenue of $433.93 million for the quarter, compared to analyst estimates of $436.06 million. Boston Beer had a net margin of 5.20% and a return on equity of 12.16%. The business’s revenue was down 4.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.16 EPS. Boston Beer has set its FY 2026 guidance at 8.500-10.500 EPS. As a group, sell-side analysts expect that Boston Beer will post 10.08 earnings per share for the current fiscal year.

Boston Beer News Roundup

Here are the key news stories impacting Boston Beer this week:

• Positive Sentiment: Management highlighted margin progress and portfolio shifts that could help stabilize profitability as category demand normalizes. SAM Q1 deep dive
• Positive Sentiment: Brand activity continues (Dogfish Head limited?edition Survivor collaboration), supporting marketing momentum and shelf visibility. Dogfish Head & Survivor launch
• Positive Sentiment: Bullish analysts/upside thesis note a strong balance sheet, cash flow and buyback capacity that could support recovery or opportunistic M&A over time. Seeking Alpha: Opportunity thesis
• Neutral Sentiment: Q1 earnings call transcript and highlights are available for investors who want management’s explanations of cost actions and channel dynamics. Q1 earnings transcript
• Neutral Sentiment: Some outlets note reported Q1 sales were roughly in line with estimates even as profitability metrics diverged. Q1 sales snapshot
• Negative Sentiment: Q1 results missed consensus: EPS of $1.64 (vs. ~ $1.85–1.96 estimates) and revenue down year?over?year; depletions/volumes declined ~4%, signaling demand softness. Zacks: Q1 miss
• Negative Sentiment: Litigation (Ardagh jury verdict) and related costs materially weighed on results and prompted guidance changes; the company disclosed it will contest the verdict but recorded significant expenses. WSJ: Litigation impact
• Negative Sentiment: Management narrowed FY?2026 non?GAAP EPS to $8.50–$10.50 (below consensus) and now sees volumes down low?to?mid single digits, reducing near?term earnings visibility. MSN: Guidance narrowed
• Negative Sentiment: An analyst price?target tweak (RBC lowered target slightly and set a “sector perform” rating) signaled tempered enthusiasm from a major broker. Benzinga: RBC price target change

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SAM. AQR Capital Management LLC increased its holdings in shares of Boston Beer by 340.4% during the 3rd quarter. AQR Capital Management LLC now owns 647,060 shares of the company’s stock valued at $136,801,000 after acquiring an additional 500,120 shares during the last quarter. Woodson Capital Management LP acquired a new position in shares of Boston Beer during the 4th quarter valued at about $19,513,000. Qube Research & Technologies Ltd increased its holdings in shares of Boston Beer by 278.0% during the 2nd quarter. Qube Research & Technologies Ltd now owns 112,507 shares of the company’s stock valued at $21,467,000 after acquiring an additional 82,742 shares during the last quarter. Quantinno Capital Management LP grew its holdings in Boston Beer by 266.7% in the 2nd quarter. Quantinno Capital Management LP now owns 77,337 shares of the company’s stock valued at $14,757,000 after buying an additional 56,248 shares during the last quarter. Finally, Man Group plc grew its holdings in Boston Beer by 135.5% in the 4th quarter. Man Group plc now owns 71,345 shares of the company’s stock valued at $13,922,000 after buying an additional 41,055 shares during the last quarter. Institutional investors and hedge funds own 81.13% of the company’s stock.

Boston Beer Company Profile

The Boston Beer Company, Inc (NYSE: SAM) is a leading craft brewer headquartered in Boston, Massachusetts. Since its founding in 1984 by Jim Koch, the company has focused on producing high-quality, distinctive beers and beverages for retail, on-premise, and distribution partners across the United States. Its operations include brewing, packaging, marketing and distribution, supported by a network of wholly owned brewing facilities and strategic partnerships with regional breweries.

Boston Beer’s flagship brand, Samuel Adams Boston Lager, helped establish the modern U.S.