Shares of Boston Beer Company Inc SAM are trading lower Friday after the company reported worse-than-expected Q2 sales results and cut its FY22 EPS guidance.
The company reported earnings per share of $4.31 versus the $5.35 analysts were expecting.
Revenue of $616.243 million also came in below the consensus estimate of $629.320 million.
The company cut its 2022 earnings per share guidance from a range of $11 to $16 to a range of $6 to $11.
Price Target: Shares are down 5.10% this morning as the price hovers at $319, according to Benzinga Pro.
Photo: Courtesy of Mika Baumeister on Unsplash
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