The Boston Beer Company, Inc. provided earnings guidance for the year 2022. Based on year-to-date performance and latest projections for the final quarter of 2022, the Company has narrowed the range of its full year 2022 projections. The Company's actual 2022 results could vary significantly from the current projection and are highly sensitive to changes in volume projections particularly related to the hard seltzer category and supply chain performance as well as inflationary impacts.

The 2022 fiscal year includes 53 weeks compared to the 2021 fiscal year which included only 52 weeks. Underlying the Company's current 2022 projection are the following full-year estimates and targets: The Company estimates the 53rd week will have a positive impact of between 1 and 1.5 percentage points on its depletions and shipments growth rates for the full year and between 4 and 6 percentage points on its depletions and shipments growth rates for the fourth quarter. For the year the company expects GAAP EPS to be $5.39 to $8.39.