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SAM beats Q3 earnings estimates despite weaker sales and shipment volumes, raising its 2026 EPS outlook on margin gains and improved brewery efficiencies.
The Boston Beer Company, Inc. ( SAM ) Q3 2026 Earnings Call October 22, 2026 5:00 PM EDT Company Participants Michael Andrews - Associate General Counsel & Corporate Secretary C. Koch - Founder, Chairman, President & CEO Matthew Murphy - Interim Treasurer & CFO and Chief Accounting Officer Conference Call Participants Filippo Falorni - Citigroup Inc., Research Division Peter Grom - UBS Investment Bank, Research Division Eric Serotta - Morgan Stanley, Research Division Kaumil Gajrawala - Jefferies LLC, Research Division Bonnie Herzog - Goldman Sachs Group, Inc., Research Division Robert Ottenstein - Evercore ISI Institutional Equities, Research Division Nadine Sarwat - Bernstein Institutional Services LLC, Research Division Michael Lavery - Piper Sandler & Co., Research Division Presentation Operator Greetings, and welcome to The Boston Beer Company Third Quarter 2026 Earnings Call.
Third-quarter gross margin rose to 51.7%. Boston Beer produced 98% of domestic volume internally.
Boston Beer NYSE: SAM reported third-quarter volume declines amid continued pressure across the beer industry, while higher brewery efficiency, favorable product mix and cost savings lifted gross margin to its highest level since 2017.
Boston Beer (SAM) came out with quarterly earnings of $4.37 per share, beating the Zacks Consensus Estimate of $4.3 per share. This compares to earnings of $4.25 per share a year ago.
The brewer posted a third-quarter profit of $43.2 million, down from $46.2 million a year earlier, as demand for beer continues to fall.
BOSTON, Oct. 22, 2026 (GLOBE NEWSWIRE) -- The Boston Beer Company, Inc. (NYSE: SAM), today reported financial results for the third quarter ended September 26, 2026. Key results were: Third Quarter 2026 Summary: Depletions decreased 5% and shipments decreased 4.9% Net revenue of $520.1 million decreased 3.2% Gross margin of 51.7% up 90 basis points year over year GAAP diluted income per share of $4.21, which includes non-recurring litigation expenses of $0.16 per share Non-GAAP diluted earnings per share of $4.37 Year-to-date 2026 Summary: Depletions decreased 5% and shipments decreased 5.4% Net revenue of $1.522 billion decreased 3.6% Gross margin of 50.5% up 80 basis points year over year GAAP diluted loss per share of $4.87, which includes non-recurring litigation expenses of $14.51 per share Non-GAAP diluted earnings per share of $9.64 Capital Structure Ended the third quarter with $308.1 million in cash and no debt Repurchased $79.5 million in shares from December 28, 2025 to October 16, 2026 “The demand environment remains challenging, and we are prioritizing actions within our control to strengthen our business and improve market share trends,” said Chairman, Founder and CEO Jim Koch.
Shares of Starcore International Mines Ltd. (TSE: SAM - Get Free Report) passed below its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of C$0.44 and traded as low as C$0.33. Starcore International Mines shares last traded at C$0.33, with a volume of 84,753 shares traded. Starcore International Mines Price