What's going on with Boston Beer Company stocks during Thursday's after-hours session

Boston Beer Company Inc SAM shares are trading down 3.62% at $324.00 in Thursday's after-hours session after the company announced third quarter EPS results worse than expected.

What happened?

Boston Beer reported quarterly earnings of $2.21 per share, which was 36.68% below analysts' consensus estimate of $3.49. The company also posted quarterly sales of $596.45 million, which beat analysts' consensus estimate of $574.39 million by 4%. This revenue represents a 6% increase over sales of $561.64 million in the same period last year.

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"I remain optimistic about the long-term growth prospects of Boston Beer's diverse beverage portfolio," said Chairman and Founder Jim Koch. "Based on our year-to-date performance and our outlook for the remainder of the year, we have narrowed the range of our fiscal year 2022 financial guidance."

Boston Beer sees FY22 Adjusted EPS of $7.00-$11.00 vs consensus of $8.33.

"As we continue to navigate this dynamic operating environment, we remain committed to investing in innovation and brand support across our Beyond Beer portfolio. We operate in attractive segments and believe that our strong capabilities - combined with the best sales force in beer - position us well to deliver long-term value."

According to data from Benzinga Pro, Boston Beer has a 52-week high of $547.71 and a 52-week low of $287.00.

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