BOSTON — BOSTON — Boston Beer Co. (SAM) on Thursday reported second-quarter net income of $52.3 million.
On a per-share basis, the Boston-based company said it had profit of $4.39.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $4.99 per share.
The brewer posted revenue of $614.2 million in the period. Its adjusted revenue was $579.1 million, also missing Street forecasts. Five analysts surveyed by Zacks expected $594.6 million.
Boston Beer expects full-year earnings to be $7 to $11 per share.
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