Boston Beer Co Battles Back Against Health Scare Trends—Can Booze Beat Wellness Culture?

The Boston Beer Company’s latest earnings provided insights into the company’s performance and strategic direction. The company’s financial health and operational strategies present both positive and negative aspects which are crucial for an informed investment decision. In 2024, Boston Beer Company demonstrated resilience in a dynamic macroeconomic environment, achieving a 31% growth in non-GAAP EPS and expanding gross margins by 200 basis points. This growth was supported by a notable increase in advertising investment across their brand portfolio, alongside significant share repurchases totaling $239 million. The company generated free cash flow of $173 million, underlining its robust cash generation capability. These results suggest a solid financial footing moving into 2025, with a plan to further leverage their strong balance sheet to support increased marketing investments aimed at driving brand awareness and market share.