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)

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