The words “Sam Adams” echoed out from bars across the land in the last quarter, helping boost volumes at Boston Beer (SAM) and sending shares rocketing 13% higher on Thursday afternoon. Boston Beer stock has been on a tremendous run in the past two years, more than doubling over that period. And despite some rocky spots this year, when investors wondered if the company’s growth could subside, the momentum appears to have returned.
SAM posted $1.19 in EPS, 9 cents ahead of analysts’ expectations. The company also raised its full year EPS outlook to a range of $3.60 to $3.90, up from $3.20 to $3.60. Depletions, or the amount of beer sold by wholesalers an distributors, jumped 11% in the quarter.
“We believe that our depletions growth is attributable to strong sales execution and support from our wholesalers and retailers as well as our great quality beers and strong brands.,” said Chairman and founder Jim Koch. “Depletions growth in the quarter improved from our first half results of 7% primarily due to the strength of our seasonal program.”
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