-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:
SAM posted Q1 adjusted EPS of $1.64 vs. $2.16 (down 24%), well short of the $1.97 consensus, while net revenue fell 4.4% to $433.9M on a 6.9% decline in shipments reflecting difficult comps. Gross margin expanded 100 bps to 49.3%, 50 bps ahead of consensus, driven by pricing actions, favorable product mix, and improved brewery efficiencies. We think management is doing a solid job managing the business given the difficult backdrop of broader industry headwinds and changing consumer preferences pressuring the alcoholic beverage sector. SAM lowered 2026 volume guidance to down low-single digits to down mid-single digits from flat to down mid-single digits, with non-GAAP EPS guidance of $8.50-$10.50 excluding $216M litigation impact. We note management has a history of providing conservative guidance, but demand-related headwinds are real as volume weakness continues reflecting challenging industry conditions and cost pressures from commodities and tariffs.