BOSTON BEER UPDATES 2024 FINANCIAL GUIDANCE TO REFLECT SUPPLIER CONTRACT AMENDMENT
BOSTON BEER UPDATES 2024 FINANCIAL GUIDANCE TO REFLECT SUPPLIER CONTRACT AMENDMENT
BOSTON, Dec. 20, 2024 (GLOBE NEWSWIRE) -- As part of its ongoing initiatives to optimize its supply chain, The Boston Beer Company, Inc. (NYSE: SAM), today announced an amendment and restatement in its entirety of an existing production agreement with a third-party supplier, Rauch North America Inc ('Rauch'). This amendment adjusts the existing production agreement to better match the Company's future capacity requirements and results in increased production flexibility and more favorable termination rights to the company in exchange for a $26 million cash payment to Rauch on or before December 23, 2024.
波斯頓,2024年12月20日(環球新聞 wire)——作爲其持續優化供應鏈的舉措之一,波斯頓啤酒公司(紐交所:SAM)今天宣佈對與第三方供應商Rauch North America Inc(『Rauch』)現有生產協議進行全面修訂和重述。此次修正調整了現有的生產協議,以更好地符合公司的未來產能需求,從而增加了生產靈活性,並給予公司更有利的終止權利,作爲交換,公司將在2024年12月23日或之前向Rauch支付2600萬現金。
As a result of the payment, the Company expects to record a pre-tax contract settlement expense of $26 million or $1.70 after tax per diluted share impact in the fourth quarter of 2024. The full anticipated impact of the payment on the Company's prior guidance is set forth in the chart below under Updated Full-Year 2024 Projections.
由於這筆付款,公司預計在2024年第四季度將記錄一項稅前合同結算費用爲2600萬,即每股攤薄後影響爲1.70美元。預計這筆付款對公司先前指導的全面影響詳見下面更新的2024年全年預測圖表。
Updated Future Third Party Production Obligations
更新的未來第三方生產義務
For the full year 2024, the Company continues to estimate shortfall fees will negatively impact gross margin by 65 to 75 basis points and the non-cash expense of third-party production pre- payments will negatively impact gross margins by 95 to 105 basis points.
在2024年全年,公司繼續預計短缺費將對毛利率產生65到75個點子的負面影響,第三方生產預付款的非現金費用將對毛利率產生95到105個點子的負面影響。
The Company continues to work to finalize its 2025 financial plan. The company does not expect this agreement to materially impact its previously provided estimate of $14 million in 2025 shortfall fees disclosed in its third quarter 10-Q filed on October 24, 2024. The Company will provide further guidance on shortfall fees and the non-cash expense of third-party production
pre-payments along with its full year 2025 financial guidance in its fourth quarter earnings report in February 2025.
公司正在努力完成其2025財務計劃。公司預計此協議不會對其先前提供的在2024年10月24日提交的第三季度10-Q中披露的2025年1400萬美元短缺費用的估計產生重大影響。公司將就短缺費用和第三方生產的非現金費用提供進一步指導。
公司將在2025年2月的第四季度業績中提供2025年全年財務指導和預付款的相關信息。
The Company has regular discussions with its third-party production suppliers related to its future capacity needs and the terms of its contracts. Changes to volume estimates, future amendments or cancellations of existing contracts could accelerate or change total shortfall fees expected to be incurred.
公司定期與其第三方生產供應商討論與未來產能需求和合同條款相關的事項。對成交量估計的變化、未來修正或取消現有合同可能會加速或改變預期產生的總短缺費用。
Updated Full-Year 2024 Projections
更新的2024全年預測
The Company has updated its full year guidance to reflect the estimated contract settlement expense discussed above. The Company's actual 2024 results could vary from the current projection and are highly sensitive to changes in volume projections and supply chain performance.
公司已更新其全年指導,以反映上述估計的合同結算費用。公司的實際2024年結果可能與當前預測有所不同,並且對成交量預測和供應鏈表現的變化高度敏感。
Full Year 2024 | Current Guidance | Prior Guidance |
Depletions and Shipments Percentage Decrease | Down low single digits | Down low single digits |
Price Increases | 2% | 2% |
Gross Margin | 44% to 45% | 44% to 45% |
Advertising, Promotion, and Selling Expense Year Over Year Change ($ million) |
($5) to $15 | ($5) to $15 |
Effective Tax Rate | 34% | 30% |
GAAP EPS | $3.80 to $5.80 | $5.50 to $7.50 |
Non-GAAP EPS | $8.00 to $10.00 | $8.00 to $10.00 |
Capital Spending ($ million) | $80 to $95 | $80 to $95 |
2024年全年 | 當前指引 | 之前指引 |
耗竭和發貨百分比下降 | 下降低個位數 | 下降低個位數 |
價格上漲 | 2% | 2% |
毛利率 | 44% 到 45% | 44% 到 45% |
廣告、促銷和銷售費用年同比變化($ 百萬) |
($5)到 $15 | ($5)到$15 |
有效稅率 | 34% | 30% |
公認會計原則每股收益 | $3.80到$5.80 | $5.50到$7.50 |
非公認會計原則每股收益 | 8.00美元至10.00美元 | 8.00美元至10.00美元 |
資本支出(百萬美元) | 80至95美元 | 80至95美元 |
The non-GAAP earnings per share (Non-GAAP EPS) projection excludes the contract settlement of $26 million or $1.70 per diluted share and the impact of non-cash brand impairments of $42.6 million or $2.49 per diluted share, recognized in the third quarter of fiscal 2024 relating primarily to the Dogfish Head brand.
非公認會計原則每股收益(非公認會計原則EPS)預測不包括2600萬美元或每稀釋股1.70美元的合同結算,以及4260萬美元或每稀釋股2.49美元的非現金品牌減值的影響,這些減值在2024財年第三季度確認,主要與Dogfish Head品牌相關。
The increase in the estimated full year effective tax rate is due to the impact of the contract settlement which decreased estimated full year pre-tax income but did not significantly change estimated full year non-deductible expenses.
預計全年的有效稅率上升是由於合同結算的影響,這減少了預計全年的稅前收入,但並沒有顯著改變預計全年的不可抵扣費用。
Use of Non-GAAP Measures
使用非GAAP措施
Non-GAAP EPS is not a defined term under U.S. generally accepted accounting principles ("GAAP"). Non-GAAP EPS, or Non-GAAP earnings per diluted share, excludes from projected GAAP EPS the estimated impact of the contract settlement of $26 million or $1.70 per diluted share to be recognized in the fourth quarter of fiscal 2024 and the impact of the non-cash asset impairment charge of $42.6 million, or $2.49 per diluted share, recognized in the third quarter of fiscal 2024 relating primarily to the Dogfish Head brand. This non-GAAP measure should not be considered in isolation or as a substitute for diluted earnings per share prepared in accordance with GAAP, and may not be comparable to calculations of similarly titled measures by other companies. Management uses this non-GAAP financial measure to make operating and strategic decisions and to evaluate the Company's underlying business performance. Management believes this forward-looking non-GAAP measure provides meaningful and useful information to investors and analysts regarding the Company's outlook for its ongoing financial and business performance or trends and facilitates period to period comparisons of its forecasted financial performance.
非公認會計原則每股收益不是美國通用會計原則("GAAP")下的定義術語。非公認會計原則每股收益,或稀釋後非公認會計原則每股收益,排除了預計GAAP每股收益中合同結算對2600萬或每股稀釋收益1.70美元的預計影響,該影響將在2024財年的第四季度確認,以及與Dogfish Head品牌相關的4260萬的非現金資產減值費用影響,或每股稀釋收益2.49美元,該費用將在2024財年的第三季度確認。這一非公認會計原則指標不應孤立考慮,也不應作爲根據GAAP編制的稀釋每股收益的替代,並且可能與其他公司以相似名稱計算的指標不具可比性。管理層使用這一非公認會計財務指標來做出經營和戰略決策,並評估公司的基礎業務表現。管理層認爲,這一前瞻性的非公認會計措施爲投資者和分析師提供了有意義和有用的信息,關於公司對其持續財務和業務表現或趨勢的展望,並促進了其預測財務表現的週期間比較。
Forward-Looking Statements
前瞻性聲明
Statements made in this press release that state the Company's or management's intentions, hopes, beliefs, expectations or predictions of the future are forward-looking statements. It is
important to note that the Company's actual results could differ materially from those projected in such forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained from time to time in the Company's SEC filings, including, but not limited to, the Company's report on Form 10-K for the year ended December 30, 2023 and subsequent reports filed by the Company with the SEC on Forms 10-Q and 8-K. Copies of these documents are available from the SEC and may be found on the Company's website, . You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Company undertakes no obligation to publicly update or revise any forward-looking statements.
本新聞稿中關於公司或管理層的意圖、希望、信念、預期或對未來的預測的陳述是前瞻性陳述。它是
重要的是要注意,公司實際結果可能與這些前瞻性陳述中預期的結果有重大差異。有關可能導致實際結果與前瞻性陳述中結果存在重大差異的因素的其他信息,時常包含在公司的SEC備案文件中,包括但不限於公司的2023年12月30日止年度的10-K表格報告以及公司向SEC提交的後續10-Q和8-K表格報告。這些文件的副本可以從SEC獲取,並可在公司網站上找到。您不應對僅在發出日期的前瞻性陳述給予過度的信賴。公司沒有義務公開更新或修訂任何前瞻性陳述。
About the Company
關於公司
The Boston Beer Company, Inc. (NYSE: SAM) began brewing Samuel Adams beer in 1984 and has since grown to become one of the largest and most respected craft brewers in the United States. We consistently offer the highest-quality products to our drinkers, and we apply what
we've learned from making great-tasting craft beer to making great-tasting and innovative
"beyond beer" products. Boston Beer Company has pioneered not only craft beer but also hard cider, hard seltzer and hard tea. Our core brands include household names like Angry Orchard Hard Cider, Dogfish Head, Sun Cruiser, Truly Hard Seltzer, Twisted Tea Hard Iced Tea, and Samuel Adams. We have taprooms and hospitality locations in California, Delaware, Massachusetts, New York and Ohio. For more information, please visit our website at , which includes links to our respective brand websites.
波斯頓啤酒公司(紐交所:SAM)於1984年開始釀造塞繆爾·亞當斯啤酒,並已發展成爲美國最大且最受尊敬的精釀啤酒釀造商之一。我們始終爲我們的飲用者提供最高質量的產品,並將我們
從釀造美味精釀啤酒中學到的經驗應用到製造美味且創新的
"啤酒之外"產品。波斯頓啤酒公司不僅在精釀啤酒方面開創了先河,也在蘋果酒、硬氣泡水和硬茶方面創新。我們的核心品牌包括衆多家喻戶曉的名字,如憤怒果園蘋果酒、狗魚頭、陽光巡航者、Truly硬氣泡水、扭曲茶硬冰茶和塞繆爾·亞當斯。我們在加利福尼亞州、特拉華州、馬薩諸塞州、紐約州和俄亥俄州設有品酒室和招待地點。欲了解更多信息,請訪問我們的網站,其中包括我們各自品牌網站的鏈接。
CONTACT: Jennifer Larson
Boston Beer Company
(617) 368-5152
jennifer.larson@bostonbeer.com
聯繫人:詹妮弗·拉爾森
波士頓啤酒公司
(617) 368-5152
jennifer.larson@bostonbeer.com
譯文內容由第三人軟體翻譯。