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Depletions in Q1 decreased 7% year-over-year, reflecting decreases in Truly Hard Seltzer, Angry Orchard, and Dogfish Head brands, partially offset by increases in its Twisted Tea brand, while Samuel Adams brand depletion volume was nearly the same.
The company provided its full 2022-year outlook, expecting EPS to range from $11.00 to $16.00, compared to the consensus estimate of $13.85. Depletions and shipments are expected to increase by 4%-10%.
Shares of SAM are down 32% year-to-date.
By Davit Kirakosyan
