Boston Beer backs FY24 EPS view $8.00-$10.00, consensus $9.60

Lowers FY24 capital spending view to $80M-$95M from $90M-$110M. Narrows FY24 price increases view to up 2% from up 1%-2%. “We continue to make progress on our strategic priorities to nurture our core brands, launch and support innovation in a disciplined way and modernize our supply chain,” said President and CEO Michael Spillane. “Our guidance has been narrowed to reflect three quarters of results, somewhat softer near-term category trends and solid gross margin delivery. We are focused on implementing plans to position the company for an improvement in operational and financial performance in 2025 and beyond.”