The Boston Beer Company, Inc. (SAM) CEO Dave Burwick on Q1 2021 Results - Earnings Call Transcript

Apr. 23, 2021 12:00 AM ETThe Boston Beer Company, Inc. (SAM)
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The Boston Beer Company, Inc. (NYSE:SAM) Q1 2021 Earnings Conference Call April 22, 2021 5:00 PM ET

Company Participants

Jim Koch - Founder and Chairman

Dave Burwick - CEO

Frank Smalla - CFO

Conference Call Participants

Harrison Vivas - Cowen and Company

Bonnie Herzog - Goldman Sachs

Kevin Grundy - Jefferies

Eric Serotta - Evercore

Laurent Grandet - Guggenheim

Sean King - UBS

Wendy Nicholson - Citi

Filippo Falorni - Morgan Stanley

Stephen Powers - Deutsche Bank

Nik Modi - RBC Capital Markets

Jim Koch

Thank you. Good afternoon, and welcome. This is Jim Koch, Founder and Chairman, and I'm pleased to kick off the 2021 first quarter earnings call for The Boston Beer Company. Joining the call from Boston Beer are Dave Burwick, our CEO; and Frank Smalla, our CFO. I'll begin my remarks this afternoon with a few introductory comments, including some highlights of our results, and then hand over to Dave, who will provide an overview of our business.

Dave will then turn the call over to Frank, who will focus on the financial details of our first quarter results as well as our outlook for 2021. Immediately following Frank's comments, we'll open the line up for questions.

As the world slowly reopens and the COVID pandemic winds down, our primary focus continues to be on operating our breweries and our business safely and working hard to continue to innovate and meet customer demand.

Before I turn to our key first quarter operational achievements, I want to note that working with the Greg Hill Foundation, our Samuel Adams Restaurant Strong Fund has raised over $7.5 million thus far for foreign restaurant workers who are experiencing hardships in the wake of COVID-19, and it's committed to continue to distribute 100% of its proceeds through grants to bars and restaurant workers across the country. We

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