Boston Beer Co. Files Q3 2024 10-Q

TL;DR

**SAM files Q3 10-Q: Financials and operations updated for the latest quarter.**

AI Summary

Boston Beer Co. Inc. filed its 10-Q for the period ending September 28, 2024. The filing details financial performance and operational updates for the third quarter. Key financial data and business segments are presented, reflecting the company's ongoing activities in the malt beverages market.

Why It Matters

This filing provides investors with the latest financial results and operational details for Boston Beer Co., crucial for understanding the company's performance and future outlook in the competitive beverage industry.

Risk Assessment

Risk Level: medium — The company operates in a competitive and regulated industry, subject to changing consumer preferences and economic conditions.

Key Numbers

• 2024-09-28 — Reporting Period End Date (Indicates the end of the fiscal quarter covered by the report.)
• 2024-10-24 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• BOSTON BEER CO INC (company) — Filer of the 10-Q
• 20240928 (date) — End of the reporting period
• 20241024 (date) — Filing date
• Dogfish Head Brewery (company) — Mentioned in relation to financial periods
• Angel City (company) — Mentioned in relation to financial periods

FAQ

Key Financial Figures

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

Filing Documents

• sam-20240928.htm (10-Q) — 1974KB
• 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) — 8KB
• 0000950170-24-117090.txt ( ) — 7701KB
• sam-20240928.xsd (EX-101.SCH) — 1136KB
• sam-20240928_htm.xml (XML) — 1250KB

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 20 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 26 Item 4.

Controls and Procedures

Controls and Procedures 26 PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 27 Item 1A.

Risk Factors

Risk Factors 27 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 28 Item 3. Defaults Upon Senior Securities 28 Item 4. Mine Safety Disclosures 28 Item 5. Other Information 28 Item 6. Exhibits 29

SIGNATURES

SIGNATURES 30 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) September 28, 2024 December 30, 2023 Assets Current Assets: Cash and cash equivalents $ 255,601 $ 298,491 Accounts receivable 94,101 66,997 Inventories 160,322 115,773 Prepaid expenses and other current assets 25,659 20,538 Income tax receivable - 1,711 Total current assets 535,683 503,510 Property, plant, and equipment, net 619,013 642,509 Operating right-of-use assets 29,766 35,559 Goodwill 112,529 112,529 Intangible assets, net 16,870 59,644 Third-party production prepayments 18,015 33,581 Note receivable 16,606 — Other assets 33,510 42,661 Total assets $ 1,381,992 $ 1,429,993 Liabilities and Stockholders' Equity Current Liabilities: Accounts payable $ 102,906 $ 87,245 Accrued expenses and other current liabilities 154,139 126,930 Current operating lease liabilities 6,602 9,113 Total current liabilities 263,647 223,288 Deferred income taxes, net 66,445 85,721 Non-current operating lease liabilities 31,592 36,161 Other liabilities 6,151 6,894 Total liabilities 367,835 352,064 Commitments and Contingencies (See Note I) Stockholders' Equity: Class A Common Stock, $ 0.01 par value; 22,700,000 shares authorized; 9,470,066 and 10,033,303 issued and outstanding as of September 28, 2024 and December 30, 2023 respectively 95 100 Class B Common Stock, $ 0.01 par value; 4,200,000 shares authorized; 2,068,000 issued and outstanding at September 28, 2024 and December 30, 2023 21 21 Additional paid-in capital 671,781 656,297 Accumulated other comprehensive loss ( 238 ) ( 57 ) Retained earnings 342,498 421,568 Total stockholders' equity 1,014,157 1,077,929 Total liabilities