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The Boston Beer Company Shares Dropped 8% on 2021 Guidance Cut
Jan 14, 2022(Last modified: Dec 19, 2023)
The Boston Beer Company, Inc. (NYSE:SAM) shares closed more than 8% lower on Friday, following the company’s published ad-hoc statement yesterday. The company cut its full 2021-year guidance again, now expecting EPS in the range of -$1.00 to $1.00, compared to the prior range of $2.00 - 6.00, reflecting weaker shipment growth from increased wholesaler destocking, and the gross margin impact of heightened supply-chain pressures.
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