Boston Beer 3Q Income Rises 24 Percent
(AP) — NEWS: The Boston Beer Company Inc.'s third-quarter net income rose 24 percent, thanks to higher demand for its Samuel Adams beer, Twisted Tea malt beverage and Angry Orchard hard cider.
DETAILS: The company, which is based in Boston, said Wednesday that its shipment volume in the third quarter jumped 29 percent from a year ago to 993,000 barrels.
NUMBERS: Net income rose to $25.7 million, or $1.89 per share, in the quarter ending Sept. 28, up from $20.8 million, or $1.53 per share, in the same quarter a year ago.
Revenue rose 28 percent to $231.8 million from $180.4 million.
FUTURE: The company did not provide a 2014 outlook, but said it will offer guidance when it reports its full-year 2013 results.
STOCK: Up $2 to close at $247.70 Wednesday before the release of the earnings report. They gave back $2 to $245.70 in aftermarket trading.