Boston Beer (SAM) cut 2024 GAAP EPS guidance after planning to pay $26 million to amend a production agreement with supplier Rauch North America.
The company expects 2024 GAAP EPS of $3.80 to $5.80, down from $5.50 to $7.50.
Analysts polled by FactSet expect $9.73.
The amended accord, resulting in a Q4 expense of $1.70 a share, will spur increased production flexibility and more favorable termination rights, Boston Beer said Friday in a statement.
Boston Beer still expects 2024 non-GAAP EPS of $8 to $10.
Analysts surveyed by FactSet expect $8.97.
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