Boston Beer Company’s shares fell nearly 4% in morning trading after the craft beer maker’s chief financial officer announced plans to leave and the company reported a sharp increase in freight costs.
The stock was down 3.42% at $184.30, extending declines from its 52-week high of $264.46. The broader market showed mixed performance, with the S&P 500 up 0.4%, the Dow Jones Industrial Average rising 0.7%, and the Nasdaq Composite gaining 0.2%.
Diego Reynoso, Boston Beer’s CFO, informed the board on August 17 that he would step down, with his last day scheduled for September 14. Matt Murphy, who previously served as interim CFO in 2023 and joined the company in 2006, will assume the interim CFO and treasurer roles while the company conducts a formal search for a permanent successor.
The executive transition follows Jim Koch’s return to the CEO role in August 2025 after his predecessor departed. Boston Beer has scheduled its Q2 2026 earnings report for late July 2026.
Freight cost inflation surged more than 35% year-over-year, pressuring margins as the company navigated supply chain challenges. Revenue in the quarter declined 3.3% year-over-year, while earnings per share missed analyst expectations. Multiple Wall Street firms responded by reducing price targets on the stock.
Despite the headwinds, Boston Beer maintains a $25 million share buyback program and has reported improvements in gross margins, providing some support for the share price amid operational challenges.
