The Boston Beer Company reported second quarter net revenue of $568.3 million, a 3.3% decline from the prior year, while gross margin expanded 60 basis points to 50.4%. Depletions decreased 6% and shipments fell 4.5% to approximately 2.0 million barrels, driven by declines in Twisted Tea, Truly, Samuel Adams, Hard Mountain Dew and Dogfish Head brands, partially offset by growth in Sun Cruiser and Angry Orchard. GAAP diluted earnings per share was $4.96, which included a favorable $1.31 per share adjustment from a supplier dispute litigation; non-GAAP diluted EPS was $3.65. The company ended the quarter with $265.5 million in cash and no debt, and repurchased $54 million in shares year-to-date through July 17, 2026. Full-year guidance was updated, with non-GAAP EPS maintained at $8.50 to $10.50 and gross margin now expected between 48.5% and 50%.
Boston Beer Company IncNet revenue down 3.3%, depletions down 6%, and shipments down 4.5% with declines in key brands.