Boston Beer Misses Q4 Estimates As Truly Sales Slump, Guides To Flat Volume Growth In 2023
- Boston Beer's revenue declined 12% year-over-year to $393.7M, missing estimates
- Depletions fell 9% amid continued declines in Truly hard seltzer sales
- Reported a greater than expected Q4 loss of $1.49 per share
- Expects depletions and shipments to be flat for the full year 2023
- Current valuation implies an uncertain profit recovery despite guidance of higher 2023 EPS