US: Boston Beer Co ups FY earnings guidance
Higher shipment volumes has prompted the brewer to raise its earnings forecast
Boston Beer Company has raised its full-year earnings forecast.
An increase in shipment volumes and the timing of “certain selling, general and administrative expenses” is the reason for the new guidance, the Samuel Adams brewer said late yesterday (12 December).
The company now expects its 2012 earnings per diluted share to come in between US$4.30 and $4.60, up from the previous range forecast of $3.80 to $4.20.
It also increased its 2013 depletions projection range to between 10% and 15%, an increase on its previous guidance of high single digits growth.
Last month, Boston reported an 11% drop in nine-month net profits to $42.6m, as a rise in advertising spend and a sales staff recruitment drive dragged down earnings.
Shares in the company were up by 1.09% at yesterday's close, at $114.23.
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