Boston Beer Co beats by $0.13, misses on revs; guides FY19 EPS in-line
- Reports Q4 (Dec) earnings of $1.86 per share, $0.13 better than the S&P Capital IQ Consensus of $1.73; revenues rose 9.2% year/year to $225.22 mln vs the $227.89 mln S&P Capital IQ Consensus.
- Depletions increased 11% and 13% from the comparable 13 and 52-week periods in 2017.
- Gross margin was 51.9% for the fourth quarter, a decrease from 52.4% in the comparable 13-week period in 2017, and 51.4% for the 52-week period ending December 29, 2018, a decrease from 52.1% in the comparable 52-week period in 2017.
- Co issues in-line guidance for FY19, sees EPS of $8.00-9.00, excluding non-recurring items, vs. $8.57 S&P Capital IQ Consensus. Additional guidance:
- Depletions and shipments percentage increase of between 8% and 13%.
- National price increases of between 1% and 3%.
- Gross margin of between 51% and 53%.