Boston Beer reports Q3 EPS $5.35, consensus $4.98

Reports Q3 revenue $605.48M, consensus $601.06M. Depletions decreased 3% and shipments decreased 1.9%. “We continue to believe that there is significant growth opportunity in Beyond Beer categories despite some near-term variability in alcoholic beverage demand. The Boston Beer (SAM) Company has a proven track record in creating new categories, producing beyond beer beverages and getting them into the hands of drinkers,” said chairman and founder Jim Koch. “We are using the strong cash generation of the business to invest in our brands and return cash to shareholders. Based on our view of the long-term growth prospects for the company, we recently expanded our share repurchase authorization by $400 million.”