BOSTON BEER UPDATES 2024 FINANCIAL GUIDANCE TO REFLECT SUPPLIER CONTRACT AMENDMENT
Boston Beer Company, Inc. (The) (SAM)
Last boston beer company, inc. (the) earnings: 4/22 04:15 pm
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US:NYSE Investor Relations:
bostonbeer.com/overview
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Source: GlobeNewswire
BOSTON, Dec. 20, 2024 (GLOBE NEWSWIRE) -- As part of its ongoing initiatives to optimize its supply chain, The Boston Beer Company, Inc. (NYSE: SAM), today announced an amendment and restatement in its entirety of an existing production agreement with a third-party supplier, Rauch North America Inc (‘Rauch’). This amendment adjusts the existing production agreement to better match the Company’s future capacity requirements and results in increased production flexibility and more favorable termination rights to the company in exchange for a $26 million cash payment to Rauch on or before December 23, 2024. As a result of the payment, the Company expects to record a pre-tax contract settlement expense of $26 million or $1.70 after tax per diluted share impact in the fourth quarter of 2024. The full anticipated impact of the payment on the Company’s prior guidance is set forth in the chart below under Updated Full-Year 2024 Projections. Updated Future Third Party Production Obligat
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News
- Boston Beer Amends Production Agreement With Rauch, Revises 2024 View [Yahoo! Finance]Yahoo! Finance
- BOSTON BEER UPDATES 2024 FINANCIAL GUIDANCE TO REFLECT SUPPLIER CONTRACT AMENDMENT [Yahoo! Finance]Yahoo! Finance
- Moxie Sozo Marks 25 Years of CPG Branding Success With Silver Jubilee [Yahoo! Finance]Yahoo! Finance
- Boston Beer Gains From Brand Strength & Innovation: Apt to Hold? [Yahoo! Finance]Yahoo! Finance
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SAM
Earnings
- 10/24/24 - Miss
SAM
Sec Filings
- 12/20/24 - Form 8-K
- 12/3/24 - Form 4
- 11/14/24 - Form 8-K
- SAM's page on the SEC website