Filing Flows › Boston Beer (SAM) › Q1 2026
Boston Beer (SAM) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 30, 2026
Boston Beer (SAM) reported revenue of $434M for the first quarter 2026 (Q1 2026), -4% from a year earlier and +13% from the quarter before. Operating margin was -43.9%, net loss $145M (33.5% of revenue).
Boston Beer, Q1 2026: revenue $434M (-4% year over year), operating margin -43.9%, net loss $145M, operating cash flow −$20.4M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $434M | +13% | -4% |
| Operating profit | −$190M | — | -664% |
| Net earnings | −$145M | — | -695% |
| Operating cash flow | −$20.4M | -151% | -1154% |
What changed
Revenue was $433.9M in Q1 2026, down 4% year over year and up 13% from the previous quarter.
Gross margin was 49.3%, up 1.0 points from Q1 2025. Operating costs exceeded revenue by $190.5M, an operating margin of -43.9%. Operating expenses grew 118% against a revenue fall of 4%. The quarter ended with a net loss of $145.3M, wider than the previous quarter's $22.5M loss.
Operating cash flow was −$20.4M. Non-cash charges added back $21.6M of depreciation and amortization and $6.4M of share-based compensation. Working capital and other items added $96.8M. Capital expenditures of $12.3M exceeded it, leaving free cash flow of −$32.8M.
Questions
What was Boston Beer's revenue in the first quarter 2026?
Boston Beer (SAM) reported revenue of $434M for the first quarter 2026 (Q1 2026), -4% from a year earlier and +13% from the quarter before.
Was Boston Beer profitable in the first quarter 2026?
Operating loss was $190M (-43.9% of revenue) and net loss $145M.
Source: Boston Beer 10-Q on SEC EDGAR.