Boston Beer (SAM) is expected to report weak Q4 results and issue a softer-than-expected fiscal 2026 outlook amid continued sales pressure from Truly and Twisted Tea, UBS Securities said in a note emailed Monday.

Investor sentiment remains mixed even after Boston Beer's stock rose 20.4% this year versus 12.6% for beverage alcohol peers, as investors remain focused on sales trends, UBS said.

Sun Cruiser brand is growing fast, but the brand is "still not big enough" to offset ongoing declines in Twisted Tea and Truly, according to the note.

Boston Beer is expected to report a Q4 loss of $2.44 per share Tuesday after market close, slightly better than Street estimates, and organic sales to fall 5.5% year over year, with shipments and depletions both down 6.5%, weaker than analyst estimates, UBS said.

UBS had a neutral rating and $234 price target for Boston Beer, with fiscal 2026 organic sales expected to fall 1.3%, compared with Street expectations for 0.9% growth, based on weaker shipment and depletion trends and pricing.

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