Beer company Boston Beer (NYSE:SAM) will be announcing earnings results tomorrow after market hours. Here's what investors should know.

Last quarter Boston Beer reported revenues of $393.7 million, down 12% year on year, missing analyst expectations by 4.8%. It was a weak quarter for the company, with a miss of analysts' revenue and operating margin estimates.

Is Boston Beer buy or sell heading into the earnings? Read our full analysis here, it's free.

This quarter analysts are expecting Boston Beer's revenue to grow 0.6% year on year to $412.3 million, improving on the 4.7% year-over-year decline in revenue the company had recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.08 per share.

Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates three times over the last two years.

Looking at Boston Beer's peers in the consumer staples segment, some of them have already reported Q1 earnings results, giving us a hint of what we can expect. Constellation Brands delivered top-line growth of 7.1% year on year, beating analyst estimates by 2% and General Mills reported revenue decline of 0.5% year on year, exceeding estimates by 2.7%. Constellation Brands traded up 1.2% on the results, and General Mills was up 2.9%.

Read our full analysis of Constellation Brands's results here and General Mills's results here.

Inflation progressed towards the Fed's 2% goal at the end of 2023, leading to strong stock market performance. The start of 2024 has been a bumpier ride, as the market switches between optimism and pessimism around rate cuts due to mixed inflation data, and while some of the consumer staples stocks have fared somewhat better, they have not been spared, with share price declining 3.2% over the last month. Boston Beer is down 7.2% during the same time, and is heading into the earnings with analyst price target of $319.3, compared to share price of $286.1.

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