Boston Beer Q1 EPS Miss, Guidance Cut

Boston Beer posted Q1 adjusted EPS $1.64, missing consensus $1.94, and revenue $433.9 million, down 4.4% YoY.
Shares fell 4.6% after hours as the company cut full‑year EPS guidance to $8.50‑$10.50, midpoint $9.50.
Gross margin rose 100 bps to 49.3% despite tariff and commodity cost pressures; depletions fell 4% and shipments down 6.9%.
CEO Jim Koch noted early category improvement, while GAAP loss per share was –$13.88, including $15.52 litigation expense.