Boston Beer posted a first‑quarter loss after a year‑over‑year swing from profit. Net loss reached $145.3 million, or $13.88 per share, versus a $24.4 million gain last year. The drop reflects weaker volume and a one‑time litigation charge that erased earnings. Management cited soft demand for craft brews and higher input costs, while investors digested the surprise reversal. The results sent the stock tumbling on the exchange.

A federal jury earlier this month awarded Ardagh Metal Packaging damages after finding Boston Beer breached a can‑supply contract. The verdict translates to a $15.52 per‑share expense, which the company says it will contest on appeal. Stripping that charge, adjusted earnings fell to $1.64 a share, missing FactSet’s $1.96 consensus. Analysts warned the hit could pressure cash flow and spur a review of agreements.

The earnings miss pushed Boston Beer’s shares down roughly 8% in after‑hours trading, widening the gap with rivals such as Constellation Brands. With the litigation unresolved and volume trends uncertain, cash reserves may come under strain, prompting the board to reconsider capital allocation and dividend policy or share buyback plan in the near term.