Budweiser Maker AB InBev Profit Drops But Volumes Beat Expectations
By Michael Susin
Anheuser-Busch InBev said first-quarter net profit sharply fell despite revenue growth that was in line with market expectations.
The world's largest brewer--which houses the Stella Artois and Budweiser brands among its portfolio--on Wednesday said net profit for the quarter was $1.09 billion from $1.64 billion a year earlier. This compares with market expectations of $1.17 billion, according to Visible Alpha consensus based on 15 analysts' estimates.
On an adjusted basis, however, profit rose to $1.51 billion from $1.31 billion.
Revenue for the quarter rose to $14.55 billion from $14.21 billion a year earlier.
The company reported organic revenue growth of 2.6%, in line with market expectations provided by the company and based on 17 brokers estimate published on April 15.
Volume decreased 0.6%, compared with the company-provided market expectations of a 1.0% decrease.
Write to Michael Susin at michael.susin@wsj.com
(END) Dow Jones Newswires
May 08, 2024 01:44 ET (05:44 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
What’s Happening in the Markets This Week
-
Worst-Performing Stock ETFs of the Quarter
-
Q3 in Review and Q4 2024 Market Outlook
-
Top-Performing Stock ETFs of the Quarter
-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
5 Stocks to Buy Instead of Overpriced US Equities
-
Consumer Defensives: Despite Angst, Thirsty Investors Have Names to Pursue
-
Industrials: Many Stocks Overvalued After Q3 Outperformance
-
Basic Materials: Despite Index Rise, We See Multiple Long-Term Opportunities
-
What the Election Could Mean for Big Tech Stocks
-
3 Lessons From Recent Stock Market Drama
-
Consumer Cyclicals: Even Amid Moderating Consumer Spending, We See Discounts
-
Healthcare: Valuations Look Fair Overall, With Select Industries Still Undervalued
-
Utilities: Falling Interest Rates, Growth Outlook Boosting Stocks