Beer company Boston Beer (NYSE:SAM) will be reporting results this Thursday after market close. Here’s what investors should know.
Boston Beer met analysts’ revenue expectations last quarter, reporting revenues of $568.3 million, down 3.3% year on year. It was a slower quarter for the company, with a significant miss of analysts’ EPS estimates.
Is Boston Beer a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Boston Beer’s revenue to decline 3.1% year on year, improving from the 11.2% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Boston Beer has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Boston Beer’s peers in the consumer staples segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Constellation Brands delivered year-on-year revenue growth of 6.1%, beating analysts’ expectations by 3.9%, and Conagra reported a revenue decline of 1.4%, in line with consensus estimates. Constellation Brands traded up 2.4% following the results while Conagra was down 6.6%.
Read our full analysis of Constellation Brands’s results here and Conagra’s results here.
Investors in the consumer staples segment have had steady hands going into earnings, with share prices up 1.4% on average over the last month. Boston Beer is up 7.5% during the same time and is heading into earnings with an average analyst price target of $194.31 (compared to the current share price of $184.23).
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