SAM · Boston Beer Company Q2 FY2026 earnings call record财报电话会记录

“Trends improved in June as consumer demand benefited from increased drinking occasions around the World Cup and America's 250th anniversary celebrations.”

“We anticipate industry volume headwinds for the remainder of 2026 as consumers remain under pressure from the cumulative effects of inflation and a significant increase in gas prices.”

“Twisted Tea is facing volume and share pressures with lower velocities reflecting broader FMB category headwinds, reduced feature and display activity, primarily due to the expansion of RTD spirits, and interaction with spirits-based hard teas.”

“The largest volume headwind continues to be concentrated in 12-packs, which have been impacted by reduced displays in the FMB category, together with consumer purchasing behavior away from larger pack sizes.”

“Revenue for the quarter decreased 3.3% due to lower volume, partially offset by price increases and favorable product mix.”

“Advertising, Promotional, and Selling expenses increased $26.2 million or 16.4% year-on-year, resulting from increased local brand marketing and point of sale investments of $17.5 million, and a slightly higher than planned freight cost increase of $8.6 million, with higher rates partially offset by lower volumes.”

“Our 2026 guidance, we are maintaining our full year volume guidance range of down low single digits to down mid-single digits.”

“Our updated gross margin guidance of 48.5%-50% reflects tailwinds from positive pricing, favorable product mix, productivity savings, and lower shortfall fees, with headwinds from tariffs and commodity inflation.”

“The impact of this change on prior year quarterly shipment flows, combined with our expected timing of shipments to meet our customer demands in 2026, will affect the quarterly pacing of shipments in the H2 of the year.”

“During the 26-week period ended June 27, 2026, and the period from June 29, 2026 through July 17, 2026, we repurchased shares in the amount of $48.5 million and $5.6 million.”

“As of July 18, 2026, we had approximately $174 million remaining on the $1.6 billion share repurchase authorization.”

“Pricing doesn't seem to be doing a lot in terms of stimulating volumes on the margin.”