Boston beer reports first quarter financial results

Boston , april 27, 2023 /prnewswire/ -- the boston beer company, inc. (nyse: sam), today reported financial results for the first quarter ended april 1, 2023. key results were: first quarter 2023 summary: depletions decreased 6% and shipments decreased 7.6% net revenue of $410.0 million decreased 4.7% gross margin of 38.0%, inclusive of non-recurring charges with an unfavorable impact of 210 basis points net loss of $9.0 million diluted loss per share of $0.73 capital structure ended the first quarter with $122.6 million in cash and no debt repurchased $27.5 million in shares from january 3, 2023 to april 21, 2023 "as we continue to navigate through a dynamic operating environment, we remain committed to investing across our attractive beyond beer portfolio.
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