Stock Market Live June 24, 2026: S&P 500 (SPY) Attempting to Regain Momentum
Q4 25 EPS
$-2.12
BEAT +15.58%
Est. $-2.51
Q4 25 Revenue
$385.7M
BEAT +1.03%
Est. $381.8M
vs S&P Since Q4 25
-23.2%
TRAILING MARKET
SAM -17.5% vs S&P +5.7%
Full Year 2025 Results
FY 25 EPS
$9.89
BEAT +5.73%
Est. $9.35
FY 25 Revenue
$1.96B
BEAT +0.06%
Est. $1.96B
Market Reaction
Did SAM Beat Earnings? Q4 2025 Results
Boston Beer delivered a mixed fourth quarter for fiscal 2025, posting a bottom-line miss against a modest revenue beat as ongoing volume declines continued to weigh on the craft brewer's results. The company reported a net loss of $2.12 per diluted s… Read more Boston Beer delivered a mixed fourth quarter for fiscal 2025, posting a bottom-line miss against a modest revenue beat as ongoing volume declines continued to weigh on the craft brewer's results. The company reported a net loss of $2.12 per diluted share, falling short of the consensus estimate of $1.98 by 7.07%, while revenue of $385.68 million edged fractionally ahead of the $384.44 million consensus despite sliding 4.1% year-over-year. The primary culprit was a 6% drop in depletions and a 7.5% decline in shipments, driven by weakness in Twisted Tea, Truly Hard Seltzer, and Samuel Adams, with $13.90 million in shortfall fees further dragging on profitability. On a brighter note, gross margin expanded 360 basis points to 43.5%, reflecting improved brewery efficiencies and pricing gains. Looking ahead, management guided full-year 2026 EPS to a range of $8.50 to $11.00, but flagged $20 to $30 million in projected tariff headwinds, while an expansion of its Sinless Vodka Cocktails into 34 markets signals the company's push to find new growth vectors.
Key Takeaways
- • Gross margin expanded 360 bps in Q4 to 43.5% driven by improved brewery efficiencies, procurement savings, price increases, and product mix
- • Depletions decreased 6% and shipments decreased 7.5% in Q4
- • Growth in Sun Cruiser, Angry Orchard, and Dogfish Head brands partially offset declines in Twisted Tea, Truly Hard Seltzer, and Samuel Adams
- • Advertising, promotional and selling expenses increased 10.5% for the full year as the company invested $61 million more in brand media and local marketing
- • Tariffs negatively impacted Q4 by $3.6 million and full year by $10.1 million
SAM YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
“We were pleased to deliver on our financial commitments in 2025 while maintaining market share in a challenging operating environment. Looking ahead, we are highly focused on operational excellence, including investing in our portfolio of iconic brands, developing a strong innovation pipeline and continuing to execute on our multi-year productivity initiatives. We believe this disciplined focus positions us to improve performance over time and create long-term value for shareholders.”
— Jim Koch, Q4 2025 Earnings Press Release
SAM Earnings Trends
SAM vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
SAM EPS Trend
Earnings per share: estimate vs actual
SAM Revenue Trend
Quarterly revenue: estimate vs actual
SAM Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 MISS | $1.97 | $1.64 | -16.76% | $433.9M | -0.46% |
| Q4 25 BEAT FY | $-2.51 | $-2.12 | +15.58% | $385.7M | +1.03% |
| FY Full Year | $9.35 | $9.89 | +5.73% | $1.96B | +0.06% |
| Q3 25 BEAT | $3.34 | $4.25 | +27.38% | $537.5M | -0.83% |
| Q2 25 BEAT | $3.96 | $5.45 | +37.63% | $587.9M | -0.12% |
| Q1 25 BEAT | $0.69 | $2.16 | +212.77% | $453.9M | +4.28% |