=Boston Beer (SAM) reported earnings Thur 18 Feb 2016 (after close)

Boston Beer Co beats by $0.07, misses on revs; guides FY16 EPS below consensus  :

• Reports Q4 (Dec) earnings of $1.21 per share, $0.07 better than the Capital IQ Consensus of $1.14; revenues fell 1.2% year/year to $215.1 mln vs the $223.81 mln Capital IQ Consensus, mainly due to a decline in core shipments of 3%, partially offset by price increases.
  • Depletions decreased 3% from the comparable 13-week period in 2014.
• Co issues downside guidance for FY16, sees EPS of $7.60-8.00 vs. $8.08 Capital IQ Consensus Estimate. 
  • Depletions and shipments percentage growth of mid-single digits. National price increases of between 1% and 2%.
  • Gross margin of between 52% and 54%. Increased investment in advertising, promotional and selling expenses of between $10 million and $20 million.