Boston Beer Co Inc Files 10-Q for Period Ending March 30, 2024

TL;DR

<b>Boston Beer Co Inc (SAM) filed its Q1 2024 10-Q, detailing financial positions and commitments.</b>

AI Summary

BOSTON BEER CO INC (SAM) filed a Quarterly Report (10-Q) with the SEC on April 25, 2024. The filing is a 10-Q for Boston Beer Co Inc (SAM) for the period ending March 30, 2024. The company's fiscal year ends on December 31. The filing includes data related to common stock, retained earnings, and accumulated other comprehensive income for various periods. Specific commitments include 'OtherPurchaseCommitmentMember' as of March 30, 2024. The filing references agreements such as the 'PepsiLicensingAgreementMember' with 'PepsicoIncMember'.

Why It Matters

For investors and stakeholders tracking BOSTON BEER CO INC, this filing contains several important signals. This 10-Q provides investors with a quarterly update on the company's financial health and operational status, crucial for understanding performance trends. The inclusion of specific commitments and agreements like the Pepsi licensing deal offers insight into the company's strategic partnerships and potential revenue streams.

Risk Assessment

Risk Level: medium — BOSTON BEER CO INC shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q), which typically contains routine financial information and does not indicate significant positive or negative developments on its own. However, the absence of detailed financial performance metrics in the provided text prevents a more precise risk assessment.

Analyst Insight

Review the full 10-Q filing for detailed financial statements, management discussion and analysis, and risk factors to assess the company's performance and outlook.

Key Numbers

• 2024-03-30 — Period End Date (Conformed Period of Report)
• 2024-04-25 — Filing Date (Filed as of Date)
• 1231 — Fiscal Year End (Company fiscal year end)

Key Players & Entities

• BOSTON BEER CO INC (company) — Filer name
• SAM (company) — Ticker symbol
• 2024-03-30 (date) — Period of report
• 2024-04-25 (date) — Filed as of date
• PepsiLicensingAgreementMember (contract) — Mentioned agreement
• PepsicoIncMember (company) — Party to agreement

FAQ

Industry Context

The Boston Beer Company operates in the malt beverages industry, a segment of the broader alcoholic beverage market.

Regulatory Implications

As a publicly traded company, Boston Beer Co Inc is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the filing of quarterly reports on Form 10-Q.

What Investors Should Do

1. Analyze the detailed financial statements within the full 10-Q for revenue, expenses, and profitability.
2. Examine the Management's Discussion and Analysis section for insights into operational performance and future outlook.
3. Review any disclosed risk factors and legal proceedings to understand potential challenges.

Year-Over-Year Comparison

This is the Q1 2024 10-Q filing. A comparison to the prior year's Q1 filing would be necessary to assess year-over-year changes.

Key Financial Figures

• $0.01 — which registered Class A Common Stock $0.01 per value SAM New York Stock Exchan

Filing Documents

• sam-20240330.htm (10-Q) — 1264KB
• sam-ex31_1.htm (EX-31.1) — 13KB
• sam-ex31_2.htm (EX-31.2) — 13KB
• sam-ex32_1.htm (EX-32.1) — 8KB
• sam-ex32_2.htm (EX-32.2) — 7KB
• 0000950170-24-048351.txt (&nbsp;) — 6046KB
• sam-20240330.xsd (EX-101.SCH) — 1109KB
• sam-20240330_htm.xml (XML) — 843KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 16 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 19 Item 4.

Controls and Procedures

Controls and Procedures 19 PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 20 Item 1A.

Risk Factors

Risk Factors 20 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 21 Item 3. Defaults Upon Senior Securities 21 Item 4. Mine Safety Disclosures 21 Item 5. Other Information 21 Item 6. Exhibits 22

SIGNATURES

SIGNATURES 23 EX-31.1 Section 302 CEO Certification EX-31.2 Section 302 CFO Certification EX-32.1 Section 906 CEO Certification EX-32.2 Section 906 CFO Certification 2 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

CONDENSED CONSOLIDATED F INANCIAL STATEMENTS (UNAUDITED)

Item 1. CONDENSED CONSOLIDATED F INANCIAL STATEMENTS (UNAUDITED) THE BOSTON BEER COMPANY, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED B ALANCE SHEETS (in thousands, except per share data) (unaudited) March 30, 2024 December 30, 2023 Assets Current Assets: Cash and cash equivalents $ 205,444 $ 298,491 Accounts receivable 72,962 66,997 Inventories 146,783 115,773 Prepaid expenses and other current assets 27,489 20,538 Income tax receivable 244 1,711 Total current assets 452,922 503,510 Property, plant, and equipment, net 635,131 642,509 Operating right-of-use assets 33,644 35,559 Goodwill 112,529 112,529 Intangible assets, net 59,581 59,644 Third-party production prepayments 30,662 33,581 Note receivable 18,739 — Other assets 40,980 42,661 Total assets $ 1,384,188 $ 1,429,993 Liabilities and Stockholders' Equity Current Liabilities: Accounts payable $ 98,107 $ 87,245 Accrued expenses and other current liabilities 104,960 126,930 Current operating lease liabilities 8,351 9,113 Total current liabilities 211,418 223,288 Deferred income taxes, net 85,710 85,721 Non-current operating lease liabilities 34,297 36,161 Other liabilities 6,035 6,894 Total liabilities 337,460 352,064 Commitments and Contingencies (See Note I) Stockholders' Equity: Class A Common Stock, $ 0.01 par value; 22,700,000 shares authorized; 9,908,668 and 10,033,303 issued and outstanding as of March 30, 2024 and December 30, 2023 respectively 99 100 Class B Common Stock, $ 0.01 par value; 4,200,000 shares authorized; 2,068,000 issued and outstanding at March 30, 2024 and December 30, 2023 21 21 Additional paid-in capital 662,942 656,297 Accumulated other comprehensive loss ( 219 ) ( 57 ) Retained earnings 383,885 421,568 Total stockholders' equity 1,046,728 1,077,929 Total liabilities and stockh