Boston Beer Stock Drops as Shipments Fall, CEO Retires https://t.co/CWTIm785vq
Boston Beer Company announces leadership change after reported loss of $18.1M over 3-month span https://t.co/JhiViVJxaV
$SAM (-9.7% pre) Boston Beer 4Q Revenue Declines on Lower Shipment Volumes https://t.co/OqKXXr9zwF
Boston Beer Company ($SAM) experienced a significant drop in its stock value following the release of its Q4 results, which revealed a 12% year-over-year decline in revenues. The company's stock fell 10% in pre-market trading. This downturn in performance has been attributed to lower shipment volumes. In response to these challenges, Boston Beer announced a leadership change, with the CEO retiring after the company reported a loss of $18.1M over a three-month span. Meanwhile, MPCC ($MPCC) reported its Q4 results, including an adjusted EPS of $0.18 and dividends of $0.13, alongside a 2024 EBITDA guidance of $240M-$280M. However, its stock also saw a decline, dropping 7% due to disappointing forward guidance.
