Boston Beer Soars After Lifting Full-Year Guidance
December 13, 2012 10:39 AM EST
Shares of Boston Beer (NYSE: SAM [FREE Stock Trend Analysis]) soared in Wednesday's after hours trading session after the company lifted its full-year earnings guidance following the closing bell. Shares rose around 13 percent to trade near $129.00. Although volume in the after hours has been very light, there were a number of aggressive bidders pushing the stock up sharply. The name should capture significant attention on Thursday.
The company cited increased shipment volumes and the timing of certain selling, general and administrative expenses in lifting its outlook. Boston Beer now expects 2012 earnings per share to be between $4.30 and $4.60. This compares to its previous outlook of $3.80 to $4.20 per share for the full-year. The updated guidance is above analysts' current consensus EPS estimates of $4.21.
Boston Beer also said that depletions growth for the year will be between 11 percent and 13 percent. For 2013, the company increased its depletions growth projection to between 10 percent and 15 percent versus its prior growth estimates of high single digits.
(c) 2012 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Copyright Benzinga. All rights reserved.
Most Popular Slideshows
- Prince William & Kate Middleton Caught Flirting In A Countryside Dinner Date [PHOTOS]
- Kate Middleton’s Mom Accused Of Being A Social Climber, Prince George Not Seen By Relatives
- Prince William & Kate Middleton Boards London Train in Casual Disguise, Royal Couple’s Incognito Plan A Huge Hit [PHOTOS]
- Angelina Jolie & Brad Pitt’s Top Secret Wedding Tramps Jennifer Aniston’s ‘Friends’ Reunion & Pregnancy Talks [PHOTOS]
Join the Conversation
- 5.5-Inch iPhone 6 is iPhone Air on Sept 19 Release Date: 5 Things to Consider Before Buying
- Pricey iPhone 6 on Release Date Likely but with 3X Retina Resolution & Mobile Payment Service – Reports
- Nexus 6 Release Date Update: Moto X+1 Look Leaked, Nexus X or Shamu Moved to Demo Phase
- Google Nexus 8 Confirmed as HTC T1 aka Volantis/Flounder with Freshly-Leaked Specs & Features – Reports
- Europe, US Next on ISIS’ Hit List, Says Saudi King; Seized ISIS Laptop Reveals Terrifying Bio-Warfare Plans
- iPhone 6 On Release Date To Feature Qualcomm MDM9625M LTE, 1GB RAM, Mobile Payment Deal With AMEX, 1334x750 Display
- HTC One M8 for Windows Vs. Nokia Lumia Icon, The Battle Of Windows Phones