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Boston Beer Co. (SAM) Tops Q3 EPS by 92c, Revenue Misses

October 23, 2025 4:20 PM EDT

Boston Beer Co. (NYSE: SAM) reported Q3 EPS of $4.25, $0.92 better than the analyst estimate of $3.33. Revenue for the quarter came in at $537.5 million versus the consensus estimate of $542.08 million.

GUIDANCE:

Boston Beer Co. sees FY2025 EPS of $7.80-$9.80, versus the consensus of $8.99.

Full Year 2025Current GuidancePrior Guidance
Depletions and Shipments Percentage ChangeDown mid single digitDown high single digit to
down low single digit
Price Increases1% to 2%1% to 2%
Gross Margin (including Tariffs)47% to 48%46% to 47.3%
Advertising, Promotion, and Selling Expense Year Over Year Change ($ million)$50 to $60$30 to $50
Effective Tax Rate29% to 30%29% to 30%
EPS (including Tariffs)$7.80 to $9.80$6.72 to $9.54
Capital Spending ($ million)$50 to $70$70 to $90

Tariff EstimateCurrent Estimate
In Guidance
Prior Estimate
In Guidance
Full year total cost impact ($ million)$9 to $13$15 to $20
Gross margin impact of tariffs (basis points)40 to 6070 to 100
EPS unfavorable impact of tariffs$0.60 to $0.80$0.96 to $1.28

For earnings history and earnings-related data on Boston Beer Co. (SAM) click here.



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