Boston Beer Company Inc. filed SEC Form 8-K: Regulation FD Disclosure, Financial Statements and Exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01 Regulation FD Disclosure.
On December 20, 2024, the Company issued a press release updating its financial guidance for fiscal year 2024 to reflect the impact of a negotiated cash payment under an amendment and restatement of an existing production agreement with a third-party supplier, Rauch North America Inc. (“Rauch”). The amendment and restatement is part of an ongoing initiative to optimize the Company’s supply chain. As a result of the cash payment to Rauch, the Company expects to record a pre-tax contract settlement expense of $26 million, or $1.70 after tax per diluted share impact, in the fourth quarter of 2024. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein.
The information furnished in this Item 7.01 (including Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, regardless of any general incorporation language in such filing, except as shall be expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
The following exhibits are filed as part of this report:
Exhibit No. |
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Description |
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99.1 |
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Press Release of The Boston Beer Company, Inc. dated December 20, 2024 |
104 |
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Cover Page Interactive Data File (embedded within Inline XBRL document) |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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The Boston Beer Company, Inc. |
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Date: |
December 20, 2024 |
By: |
/s/ Michael Spillane |
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Name: Michael Spillane |