Shares in Boston Beer Co. plunged nearly 14 percent on Thursday after the brewer reported fourth-quarter earnings and provided guidance for 2018. The news came on the heels of last week’s announcement that Peet’s Coffee chief executive Dave Burwick would be Boston Beer’s new chief executive, reporting to founder and chairman Jim Koch.

The earnings report didn’t contain overly gloomy news that would automatically take the fizz out of Sam shares. But Boston Beer just wrapped up the second year in a row of declining revenue.

The company continues to find itself squeezed from above by giants such as AB InBev and Molson Coors, and from below by an ever-growing crowd of smaller craft brewers. It’s too small to push around the big boys, and too big to be one of the cool kids.

Koch and his departing lieutenant, Martin Roper, even offered hope for a turnaround. Cold Snap is back in the lineup as the spring seasonal brew, and Sam ’76 is off to a solid start. Shipments might finally grow again for 2018, with year-over-year change estimated at between zero and plus 6 percent.

Many investors, though, seemed to focus on the likelihood of “zero’’ and decided to sell, sending shares down by more than $26 to $166.90. It didn’t help that analysts raised questions about how competition will affect Boston Beer’s pricing power (though beer drinkers won’t mind).

Morningstar summed up the general consensus, labeling the shares “still not a bargain.’’

All of this shouldn’t surprise Burwick, a Boston Beer board member since 2005. But privately owned Peet’s has been shielded from Wall Street pressures for years. Burwick won’t enjoy that same relief as CEO at Boston Beer.

Jon Chesto can be reached at jon.chesto@globe.com. Follow him on Twitter @jonchesto.