Dive Brief:
- In its Q4 earnings, Boston Beer Co. reported numbers that did not meet Wall Street's expectations. While Wall Street expected Boston Beer to report earnings of $1.51 per share, the company reported net income of $19.1 million, or $1.40 per share instead.
- The beer producer's net revenue jumped to $217.8 million, a 6% increase over last year's fourth quarter, though even this number still fell below analysts' forecasted $235.96 million.
- Boston Beer's 2015 outlook remains grim. The company forecast earnings for the coming year fell well below Wall Street's predictions of $7.96 per share as the company reported between $7.10 and $7.50 per share.
Dive Insight:
Despite less than appealing earnings, Jim Koch, Boston Beer's chairman and founder, was positive about the company's status. He said in a press release, "Our drinkers still get excited by our beers, and our growth is attributable to great beer innovation, coupled with strong sales execution and support from our distributors and retailers. I am especially proud of our employees for growing Samuel Adams in a very competitive environment and learning to brew, manage and sell a more complicated portfolio."