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Investing.com — Boston Beer Firm Inc (NYSE:SAM) minimize its full-year GAAP earnings per share steerage to $3.80-$5.80, down from $5.50-$7.50.
The corporate stated it has amended its manufacturing settlement with Rauch North America to higher align with its future capability wants. The revised deal enhances manufacturing flexibility and grants Boston Beer improved termination rights.
As a part of the settlement, Boston Beer will make a $26 million money cost to Rauch by December 23, leading to a pre-tax contract settlement expense of $26 million, or $1.70 per diluted share after tax, within the fourth quarter of 2024.
Non-GAAP EPS steerage stays unchanged at $8.00-$10.00.
