Boston Beer - SAM STOCK NEWS

Dogfish Head announces the return of its iconic Punkin Ale for the 30th consecutive year, headlining its fall seasonal drink lineup. The 7.0% ABV brown ale, brewed with real pumpkin and spices, features new artwork by Methane Studios. Alongside Punkin Ale, Dogfish Head introduces:

1. Punkin Liqueur (30% ABV), a -edition spirit available only in Delaware.
2. Affogato World Wide Stout (15.0% ABV), a new variation of their Imperial Stout with espresso and vanilla notes.
3. Fall Variety Pack featuring the exclusive Tasty Traveler Jasmine Rice Lager (5.0% ABV), alongside 60 Minute IPA, SeaQuench Ale, and Blue Hen Pilsner.

These seasonal offerings cater to various tastes, from pumpkin enthusiasts to those seeking alternative fall flavors.

Samuel Adams, a brand of The Boston Beer Company, has won four Gold and Best in Country awards at the World Beer Awards in the U.K. The winning beers include:

• Samuel Adams American Light: Gold & Best in Country in Light Lager category
• Samuel Adams Just the Haze: Gold & Best in Country in No & Low Alcohol IPA category
• Samuel Adams Boston Lager: Gold & Best in Country in Amber Lager category
• Samuel Adams Summer Ale: Gold & Best in Country in Pale Ale Seasonal category

Samuel Adams American Light, launched earlier this year in 14 states and Washington, D.C., also won Bronze at the 2024 Australian International Beer Awards. The brand's success highlights Boston Beer's continued focus on crafting high-quality, innovative beers.

The Boston Beer Company (NYSE: SAM) has appointed Biz Stone and Joe Jordan to its Board of Directors, effective July 29, 2024. Stone, co-founder of Twitter and other tech ventures, will serve as an independent Class B Director on the Compensation and Nominating/Governance Committees. Jordan, currently President of U.S. and Global Services at Domino's, will serve as an independent Class A Director on the Audit and Compensation Committees.

Stone brings entrepreneurial and innovative experience, while Jordan offers expertise in brand management and consumer packaged goods. These appointments aim to strengthen the board's capabilities in technology, innovation, and industry knowledge. The move comes as part of Boston Beer's strategy to enhance its leadership in the craft brewing and 'beyond beer' product categories.

Boston Beer Company (NYSE: SAM) reported Q2 2024 financial results with mixed performance. Net revenue decreased 4.0% to $579.1 million, while net income fell 9.8% to $52.3 million. Depletions decreased 4% and shipments declined 6.4%. However, gross margin improved by 60 basis points to 46.0%. Year-to-date, the company saw a 2% decrease in depletions and a 3.4% decrease in shipments. Despite challenges, year-to-date net income increased 32.3% to $64.9 million. The company maintains its EPS guidance of $7.00 to $11.00 for 2024 but revised its volume guidance downward. Boston Beer continues to focus on innovation and brand investment while returning cash to shareholders through share repurchases.

Truly Hard Seltzer, the Official Hard Seltzer of U.S. Soccer, has enhanced its partnership with the U.S. Men's National Soccer Team (USMNT) by involving stars Weston McKennie and Tyler Adams in new initiatives. The brand introduces 'Shower Trulys' as the Official Shower Beverage of U.S. Soccer, and revives the popular Truly Orange Slices flavor, complete with a new mascot, 'Slicey.' These efforts aim to elevate fan engagement through innovative campaigns, such as the 'Trufah' shower accessory and American Outlaws pregame parties. Truly's 24-ounce cans featuring the U.S. Soccer crest are now available nationwide.

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