Boston Beer Company - SAM STOCK NEWS

Samuel Adams has named Crowns & Hops Brewing Co. as the winner of its 2024 Brewing & Business Experienceship. This Inglewood-based, Black-owned, woman-owned, and veteran-owned brewery will receive mentorship and support from Samuel Adams professionals, including founder Jim Koch. This initiative is part of the Brewing the American Dream program, which aims to support food and beverage entrepreneurs. Crowns & Hops, co-founded by Beny Ashburn and Teo Hunter, has been recognized for its innovation and inclusivity in the craft beer industry. As part of the award, they will also attend the Great American Beer Festival and collaborate on a specialty beer with Samuel Adams.

Dogfish Head and Dan-O’s Seasoning introduce a -edition grilling kit, debuting June 7, 2024, exclusively on GiveThemBeer.com. The kit includes two Dogfish Head beers—Citrus Squall and a new dark lager, Y’all Don’t Know Till You Dan-O—along with Dan-O’s Original and Citra-diculous seasoning blends. This collaboration aims to enhance summer grilling experiences with unique, flavor-rich combinations. The Y’all Don’t Know Till You Dan-O beer will also be available at Dogfish Head’s Rehoboth store starting June 10 for $17 per 4-pack. Dan-O's Citra-diculous seasoning will be available on their website later in June for $17.99 per 6.5oz can.

The Boston Beer Company (NYSE: SAM) issued a statement addressing speculation about a potential company sale. The company confirmed its awareness of the Wall Street Journal article discussing these rumors but refrained from commenting on them. Instead, Boston Beer emphasized its commitment to operating as an independent entity and focusing on returning to growth.

The Duckhorn Portfolio (NYSE: NAPA) has appointed Dave Burwick to its Board of Directors, effective May 21, 2024. Burwick, who brings over 30 years of experience in the beverage industry, recently retired as President and CEO of The Boston Beer Company (NYSE: SAM). He will chair the Nominating and Corporate Governance Committee and serve on the Audit Committee. Burwick's extensive background includes leadership roles at Peet's Coffee & Tea, WW International, and PepsiCo. Both Duckhorn's leadership and Burwick emphasize the potential for significant growth and value creation. Burwick also holds an MBA from Harvard Business School and is a board member at Deckers Outdoor

The Boston Beer Company has announced the launch of its new product, Samuel Adams American Light, a light craft lager. This new beer features a 4.2% ABV and only 115 calories, designed to offer a crisp, refreshing taste without compromising on flavor. American Light will be available this summer in 15 markets, including states like Connecticut, Florida, and Texas, and cities like Pittsburgh and Washington, D.C. The company plans for national distribution by March 2025. The beer will be offered in 12 oz. can six-packs, 12-packs, and on draft in select locations.

Dogfish Head Cocktails expands its lineup with the addition of a new Strawberry Lime Tequila Margarita, boasting a 12.0% ABV. The brand's RTD cocktails feature real spirits and fruit juices for a delicious summer experience. Dogfish Head introduces a unique tattoo giveaway event to celebrate the launch. The company's commitment to quality and innovation shines through its diverse portfolio of award-winning cocktails.

Dogfish Head Craft Brewery celebrates '120 Day' by announcing the return of its fan-favorite 120 Minute IPA and unveiling new beer packaging artwork. The updated designs feature brighter graphics, unique illustrations, and an enlarged 'shark-and-shield' logo. Sam Calagione, the Founder & Brewer, expresses excitement over the new look, emphasizing the brand's nautical roots, flavor profiles, and iconic logo. The 120 Minute IPA, known for its high hop content and 15.5% ABV, is now available nationwide. The new packaging aims to enhance shelf visibility and provide clearer flavor expectations for consumers.

Samuel Adams has entered a three-year partnership with the Pan-Mass Challenge (PMC) as the official beer and non-alcoholic beer provider. The sponsorship includes offering a variety of beer options at the event, supporting cancer research and treatment at Dana-Farber Cancer Institute. The PMC, a renowned athletic fundraiser, is close to reaching $1 billion in lifetime fundraising. The partnership aims to celebrate the dedication of participants and support the important cause of eradicating cancer.

Boston Beer Company, Inc. (NYSE: SAM) reported Q1 2024 results with flat depletions, 0.9% shipment increase, $426.1M net revenue, 43.7% gross margin, $12.6M net income, $1.04 EPS. Ended Q1 with $205.4M cash, repurchased $65M in shares. CEO optimistic about 2024 volume and EPS guidance. Depletions estimate down 2% year-to-date. Full-year 2024 projections unchanged except for effective tax rate increase. Company's cash balance, operating cash flows, and credit line deemed sufficient for future needs. Q1 saw decreased advertising expenses but increased general and administrative expenses. Effective tax rate higher at 33.0% compared to 27.8% in the prior year. Company repurchased $65M in shares year-to-date, remaining $201.5M on buyback limit. Full-year 2024 estimates include gross margin impact of shortfall fees and production pre-payments, with seasonal business fluctuations noted.