Boston Beer Jumps On Stellar Second-quarter Earnings

By Sue ChangMarketsMarketWatch Pulse

Shares of Boston Beer Co. soared in Thursday's extended session after the maker of Sam Adams beer turned in quarterly earnings that handidly beat Wall Street's expectations. Boston Beer reported its second-quarter earnings rose to $29.1 million, or $2.35 a share, from $26.6 million, or $2.06 a share, a year earlier. The latest quarter result includes 2 cents a share in tax benefit. Revenue edged up to $264.7 million versus $261.2 million. Analysts surveyed by FactSet had forecast earnings of $1.41 a share and revenue of $223 million. For the full year, the brewer projected adjusted earnings per share of $5 to $6.20. Analysts are expecting EPS of $5.12 in 2017. Boston Beer shares jumped 13% after hours.

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