US: Boston Beer Co raises FY earnings forecast
The Boston Beer Company has raised its full-year earnings guidance.
The US-based brewer yesterday (15 December) forecast 2009 earnings per diluted share of between US$2.05 and $2.35.
It previously forecast a range of $1.75 to $2.05.
"We have raised our earnings projection for the full-year 2009 based on achieving improved levels of brewery operating performance earlier than anticipated," said Boston Beer CEO Martin Roper.
He added that the firm has also continued to benefit from lower energy and commodity costs.
The brewer reported rises in both net sales and earnings for the first half of 2009, against a 2008 first half damaged by a costly product recall.
Higher prices helped net sales for the six months to 27 June to rise by around 3% to US$199m, despite an estimated 1% slip in volume sales year-to-date, Boston Beer said in August.
Sectors: Beer & cider
- Most Valuable Spirits Brands in 2017 - The facts
- Most Valuable Beer Brands in 2017 - The facts
- Has the politics of M&A changed? - Analysis
- IAADFS Duty Free Show of the Americas - Preview
- Interview, Fever-Tree's founders
- Coca-Cola Co announces senior executive shake-up
- Diageo's Captain Morgan LocoNut - NPD
- Heineken releases colour-change bottles
- Diageo rolls out vegan Baileys Almande Almondmilk
- Heineken sees Tesco pull SKUs in UK
- Central and East Europe Report Package
- Battle of the Generations - The fight for iGen, Millennial, Gen X and Baby Boomer consumers
- Global vodka insights - market forecasts, product innovation and consumer trends
- Global rum insights - market forecasts, product innovation and consumer trends
- Global Scotch insights - market forecasts, product innovation and consumer trends