| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 568.34 | 31.0% | 3.3% |
| Total Income | 568.34 | 31.0% | 3.3% |
| Expenditure | 497.57 | 20.3% | 1.6% |
| PBT | 72.32 | 138.3% | 14.0% |
| Net Profit | 51.57 | 135.5% | 14.7% |
| OPM | 12.45% | 56.34pp | 1.51pp |
| NPM | 9.07% | 42.55pp | 1.21pp |
| EPS | 4.96 | 135.7% | 9.0% |
The Boston Beer Company Reports Q2 2026 Financial Results
24 Jul 2026 · 24 Jul, 2:02 am
Summary
The Boston Beer Company reported second quarter 2026 net revenue of $568.3 million, down 3.3% year over year, primarily due to a 6% decrease in depletions. However, gross margin improved to 50.4%, up 60 basis points, driven by brewery efficiencies and favorable product mix. GAAP diluted income per share was $4.96, including a $1.31 benefit from litigation expense adjustments, with non-GAAP diluted EPS at $3.65. Management expressed focus on marketplace execution and innovation, while CFO Diego Reynoso highlighted meaningful gross margin expansion and maintaining the earnings outlook despite consumer demand and cost headwinds.
Key Highlights
- 1
Second quarter net revenue was $568.3 million, a decrease of 3.3% year over year.
- 2
Gross margin for the second quarter was 50.4%, an increase of 60 basis points compared to the prior year.
- 3
GAAP diluted income per share was $4.96 for the second quarter, which included a favorable adjustment of $1.31 per share related to litigation expenses.
- 4
Non-GAAP diluted earnings per share for the second quarter was $3.65.
- 5
Year-to-date net revenue was $1.002 billion, a decrease of 3.8% compared to the prior year.
- 6
Year-to-date gross margin was 49.9%, an increase of 80 basis points year over year.
- 7
The company ended the second quarter with $265.5 million in cash and no debt.
Management Comments
Jim Koch
As we continue to navigate a challenging operating environment, we are managing the business with discipline while investing behind our category-leading brands and bringing innovation to market. We are highly focused on marketplace execution for the remainder of the summer selling season and improving market share trends. Our strong cash flow generation and healthy balance sheet provide flexibility to support our strategic priorities and drive long-term value.
Diego Reynoso
We delivered meaningful gross margin expansion and are maintaining our earnings outlook while navigating a dynamic consumer demand environment and input cost headwinds. These results demonstrate the progress we continue to make through our multi-year supply chain transformation efforts, combined with a disciplined approach to investment.
Informational and educational content only. Not investment advice.