Why Shares Of Boston Beer Are Falling Today

Why Shares Of Boston Beer Are Falling Today

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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