The Boston Beer Company Reports First Quarter 2026 Financial Results

The Boston Beer Company reported its first quarter 2026 financial results on April 30, 2026. Key highlights include a 4% decrease in depletions and a 6.9% decrease in shipments. Net revenue for the quarter was $433.9 million, a 4.4% decrease year-over-year. Gross margin improved to 49.3%, up 100 basis points from the previous year, driven by price increases, favorable mix, procurement savings, and brewery efficiencies, partially offset by inflationary costs. The company reported a GAAP diluted loss per share of $13.88, which includes a significant non-recurring litigation expense of $15.52 per share related to a supplier verdict. Non-GAAP diluted earnings per share were $1.64. The company ended the quarter with $164.1 million in cash and no debt. Share repurchases totaling $31 million were made from December 29, 2025, to April 24, 2026. The company has updated its full-year 2026 guidance, now projecting a GAAP diluted loss per share between ($7.02) and ($5.02), reflecting the previously announced litigation expenses.