BOSTON (AP) 鈥� BOSTON (AP) 鈥� Boston Beer Co. (SAM) on Thursday reported a loss of $145.3 million in its first quarter.
The Boston-based company said it had a loss of $13.88 per share. Earnings, adjusted for non-recurring costs, came to $1.64 per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.85 per share.
The brewer posted revenue of $461.6 million in the period. Its adjusted revenue was $433.9 million, also missing Street forecasts. Four analysts surveyed by Zacks expected $436.8 million.
Boston Beer expects full-year earnings in the range of $8.50 to $10.50 per share.
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