Anheuser-Busch InBev Reports Q4 Revenue Growth
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 3 days ago
0mins
Should l Buy BUD?
Source: seekingalpha
- Revenue Growth: Anheuser-Busch InBev reported a 2.5% year-over-year revenue increase in Q4, with revenue per hectoliter rising by 4.0%, despite a 1.5% decline in overall volumes, indicating resilience and pricing power in the market.
- Regional Performance Variance: Organic sales fell by 1.5% globally, with declines of 4.0% in South America and 3.5% in North America, while the Middle Americas was the only region to achieve positive growth, reflecting varying consumer trends and demand shifts.
- Market Share Gains: In the U.S. market, Anheuser-Busch's beer performance was robust, with Michelob Ultra becoming the leading brand by volume and achieving significant share gains, while Busch Light ranked as the second-largest volume share gainer, further solidifying the company's market position.
- Strong Financial Performance: Normalized EBITDA increased by 2.3% to $5.47 billion, beating consensus expectations, while underlying EPS rose by 7.5% to $0.95, surpassing the estimate of $0.88, demonstrating ongoing profitability improvements, with free cash flow totaling $11.3 billion enhancing future investment capacity.
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Analyst Views on BUD
Wall Street analysts forecast BUD stock price to fall
2 Analyst Rating
2 Buy
0 Hold
0 Sell
Moderate Buy
Current: 80.200
Low
75.00
Averages
80.00
High
85.00
Current: 80.200
Low
75.00
Averages
80.00
High
85.00
About BUD
Anheuser-Busch Inbev SA is a Belgium-based company. The Company is primarily engaged in the manufacturing of beer. The Company operates through six segments: North America, Middle Americas, South America, EMEA, Asia Pacific, Global Export and Holding companies. The Company's brand portfolio includes global brands, such as Budweiser, Corona and Stella Artois; international brands, including Beck's, Leffe and Hoegaarden, and local champions, such as Bud Light, Skol, Brahma, Antarctica, Quilmes, Victoria, Modelo Especial, Michelob Ultra, Harbin, Sedrin, Klinskoye, Sibirskaya Korona, Chernigivske, Cass and Jupiler. The Company's soft drinks business consists of both own production and agreements with PepsiCo related to bottling and distribution arrangements between its various subsidiaries and PepsiCo. Ambev, which is a subsidiary of the Company, is a PepsiCo bottler. Brands that are distributed under these agreements are Pepsi, 7UP and Gatorade.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Market Demand: Despite a 1.5% decline in volume for Q4, management noted that changing consumer preferences towards healthier lifestyles are reshaping the market, with expectations for volume boosts from major sporting events like the World Cup, particularly strong demand for Corona beer during the Winter Olympics.
- Brand Image Improvement: Budweiser is enhancing its brand image through high-profile Super Bowl ads, which are expected to continue boosting its influence in the U.S. market, especially as consumer affinity for the brand increases.
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- Market Share Gains: In North America, Michelob Ultra and Busch Light drove share gains in both beer and spirits, while revenue from Beyond Beer and non-alcoholic beer grew by 23% and 34%, respectively, indicating robust performance in emerging markets.
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- Profit Guidance: The company set its 2026 operating profit guidance at a growth range of 4% to 8%, reflecting management's confidence in future performance, particularly amid challenges posed by commoditized products in the beer industry.
- Market Demand: Despite a 1.5% decline in volume for Q4, management noted that changing consumer preferences towards healthier lifestyles are reshaping the market, with expectations for volume boosts from major sporting events like the World Cup, particularly strong demand for Corona beer during the Winter Olympics.
- Brand Image Improvement: Budweiser is enhancing its brand image through high-profile Super Bowl ads, which are expected to continue boosting its influence in the U.S. market, especially as consumer affinity for the brand increases.
See More
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- Strong Financial Performance: Anheuser-Busch reported a 6% increase in earnings per share (EPS) to $3.73 for 2025, alongside a 4.9% EBITDA growth, demonstrating the company's resilience and consistent strategic execution in a dynamic consumer environment.
- Market Share Gains: In North America, Michelob Ultra and Busch Light drove share gains in both beer and spirits, while revenue from Beyond Beer and non-alcoholic beer grew by 23% and 34%, respectively, indicating robust performance in emerging markets.
- Increased Shareholder Returns: The company announced a final dividend of EUR 1 per share and a $6 billion share buyback program, with an overall dividend increase of 15% year-over-year, reflecting a commitment to shareholders and financial health.
- Optimistic Future Outlook: Management expects EBITDA to grow organically by 4% to 8% in 2026, maintaining an unchanged medium-term outlook, emphasizing ongoing investments in digitalization and innovation to capture future industry growth opportunities.
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- Earnings Release: Anheuser-Busch InBev reported its fourth-quarter financial results on Thursday, with market optimism surrounding its performance likely to drive stock price increases, although specific figures were not disclosed.
- Market Reaction: BUD stock is challenging resistance levels, indicating strong market demand and investor confidence, which may attract more attention from potential investors.
- Analyst Inquiries: During the earnings call, analysts expressed keen interest in the company's growth in zero-alcohol beer and ready-to-drink (RTD) segments, particularly its high growth rate compared to peers.
- CEO Summary: CEO Michel Doukeris concluded the call by thanking investors for their support and encouraging everyone to enjoy life, reflecting the company's confidence and positive outlook for the future.
See More
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- Strong Financial Performance: AB InBev reported an adjusted EPS of $3.73 for fiscal 2025, surpassing analyst expectations of $3.53, indicating robust performance in a dynamic consumer environment, which is likely to boost investor confidence.
- Sales Growth: Quarterly sales reached $15.555 billion in 2025, exceeding expectations of $15.533 billion with a 4.8% year-over-year increase, although annual sales declined by 0.8% due to unfavorable currency translation, the overall performance remains solid.
- Regional Revenue Disparities: North America generated $3.235 billion in revenue, with a 1.4% decline in the U.S. market, while other regions like Middle Americas and South America showed strong revenue growth at $4.927 billion and $3.645 billion respectively, demonstrating the company's adaptability across markets.
- Shareholder Return Plans: The board proposed a final dividend of €1.00 per share, bringing the total dividend for 2025 to €1.15, and the company has completed approximately $635 million of its $6 billion share buyback program, enhancing shareholder return expectations.
See More
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- Anheuser-Busch Growth: Anheuser-Busch's fourth-quarter earnings reached $0.95 per share, beating the $0.90 analyst estimate, with revenue of $15.56 billion exceeding the $14.95 billion consensus, resulting in a 2.6% stock rise, reflecting robust growth in a competitive beer market.
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