All articles tagged with #boston beer
Boston Beer Company Inc, known for brands like Samuel Adams and Truly Hard Seltzer, is reportedly in talks to be sold to Suntory, the owner of Jim Beam. The potential sale, which would value Boston Beer at a premium to its current $3 billion market cap, comes as the company's shares have dropped 25% this year. The deal requires approval from founder Jim Koch, who holds 100% of the voting rights.
Boston Beer's stock slid after the company posted disappointing fourth-quarter results, with revenue falling 12% and depletions down 9% year over year. The company reported a loss of $1.49 per share, worse than expected, and provided a cautious outlook for 2024, expecting flat depletions and shipments, with a slight revenue increase and GAAP earnings per share of $7 to $11. The stock's current valuation implies a recovery that has yet to materialize, and investors are advised to consider other stock options with potential for higher returns.