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Boston Beer: 1Q Earnings Snapshot

Associated Press
Updated ·1-min read

BOSTON (AP) _ Boston Beer Co. (SAM) on Wednesday reported first-quarter net income of $18.2 million.

The Boston-based company said it had net income of $1.49 per share. Earnings, adjusted for pretax gains, came to $1.32 per share.

The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.75 per share.

The brewer posted revenue of $352.2 million in the period.

Boston Beer shares have climbed 12% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $424.47, a rise of 56% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SAM at https://www.zacks.com/ap/SAM