SAM — what changed in the latest 10-Q
A section-by-section comparison of SAM's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-10-22 vs the prior 10-Q · 2026-07-23
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +17 | −19 | ~20 | 5 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | +1 | −1 | ~1 | 0 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Legal proceedings
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-10-22
Gross profit. Gross profit was $146.16 per barrel for the thirteen weeks ended September 26, 2026, as compared to $141.07 per barrel for the thirteen weeks ended September 27, 2025. The increase in gross profit per barrel was primarily driven by favorable product mix, pricing, and cost savings, more…
Advertising, promotional, and selling expenses. Advertising, promotional and selling expenses was flat at $165 million for the thirteen weeks ended September 26, 2026 and for the thirteen weeks ended September 27, 2025. This reflected $9.5 million in higher freight costs, with higher freight rates m…
Income tax provision. The Company's effective tax rate was a provision of 26.7%, a decrease from 28.1% in the prior year. This decrease in rate is due primarily to the positive impact of non-deductible stock compensation.
Thirty-nine Weeks Ended September 26, 2026 compared to Thirty-nine Weeks Ended September 27, 2025
Net revenue. Net revenue decreased by $56.9 million, or 3.6%, to $1.522 billion for the thirty-nine weeks ended September 26, 2026, as compared to $1.579 billion for the thirty-nine weeks ended September 27, 2025, primarily due to decreased sales volume impacts of $84.5 million and increased sales i…
Text removed vs the prior filing · source: 10-Q · 2026-07-23
Gross profit. Gross profit was $139.89 per barrel for the thirteen weeks ended June 27, 2026, as compared to $136.44 per barrel for the thirteen weeks ended June 28, 2025.
Advertising, promotional, and selling expenses. Advertising, promotional and selling expenses increased by $26.2 million, or 16.4%, to $185.9 million for the thirteen weeks ended June 27, 2026, as compared to $159.7 million for the thirteen weeks ended June 28, 2025 resulting from higher increased b…
For the thirteen weeks ended June 27, 2026, the combined pre-tax income related to the supplier dispute litigation of $18.0 million consists of legal expenses of $1.4 million, recorded in general and administrative expenses, and litigation reduction of $19.4 million.
Income tax provision. The Company's effective tax rate was a provision of 28.7%, an increase from 28.1% in the prior year. This increase in rate is due primarily to the increased negative impact of non-deductible stock compensation.
Twenty-six Weeks Ended June 27, 2026 compared to Twenty-six Weeks Ended June 28, 2025
Controls & procedures
Text added vs the prior filing · source: 10-Q · 2026-10-22
There were no changes in the Company’s internal control over financial reporting that occurred during the thirteen weeks ended September 26, 2026 that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting. The Company conside…
Text removed vs the prior filing · source: 10-Q · 2026-07-23
There were no changes in the Company’s internal control over financial reporting that occurred during the thirteen weeks ended June 27, 2026 that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice