Filing Flows › Boston Beer (SAM) › Q2 2026 › vs Q2 2025
Boston Beer (SAM) Q2 2026 vs Q2 2025 (year over year)
Boston Beer's revenue fell $19.6M (-3%) from $588M in Q2 2025 to $568M in Q2 2026. Gross margin 50.4% against 49.8% (+0.6 pts).
Boston Beer, Q2 2026: revenue $568M (-3% year over year), operating margin 12.5%, net earnings $51.6M, operating cash flow $138M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 50.4% | 49.8% | +0.6 pts |
| Operating margin | 12.5% | 14.0% | -1.5 pts |
| Net margin | 9.1% | 10.3% | -1.2 pts |
| Free cash flow margin | 22.4% | 19.1% | +3.3 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $568M | $588M | −$19.6M | -3% |
| Gross profit | $286M | $293M | −$6.1M | -2% |
| Cost of revenue | $282M | $295M | −$13.5M | -5% |
| Operating profit | $70.8M | $82.1M | −$11.3M | -14% |
| Operating expenses | $216M | $210M | $5.2M | +2% |
| Pre-tax earnings | $72.3M | $84.1M | −$11.7M | -14% |
| Net earnings | $51.6M | $60.4M | −$8.9M | -15% |
| Income tax | $20.8M | $23.6M | −$2.9M | -12% |
| Depreciation & amortization | $21.0M | $22.4M | −$1.4M | -6% |
| Share-based compensation | $5.1M | $5.1M | $12K | +0.2% |
| Working capital & other | $60.4M | $38.6M | $21.8M | +56% |
| Operating cash flow | $138M | $126M | $11.5M | +9% |
| Free cash flow (OCF − capex) | $127M | $112M | $15.2M | +14% |
| Capital expenditures | $10.5M | $14.2M | −$3.7M | -26% |
Questions
How much did Boston Beer's revenue grow year over year in Q2 2026?
Boston Beer's revenue fell $19.6M (-3%) from $588M in Q2 2025 to $568M in Q2 2026. Gross margin 50.4% against 49.8% (+0.6 pts).