BOSTON (AP) 鈥� BOSTON (AP) 鈥� Boston Beer Co. (SAM) on Thursday reported second-quarter earnings of $51.6 million.
The Boston-based company said it had net income of $4.96 per share. Earnings, adjusted for non-recurring gains, were $3.65 per share.
The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $4.77 per share.
The brewer posted revenue of $607.8 million in the period. Its adjusted revenue was $568.3 million, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $571.9 million.
Boston Beer expects full-year earnings in the range of $8.50 to $10.50 per share.
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