Anheuser-Busch InBev (BUD) čelí dlouhodobému riziku slabší poptávky v důsledku nižší spotřeby alkoholu mezi mladšími generacemi, a to navzdory vysokým maržím a zlepšující se bilanci.
SummaryAnheuser-Busch InBev remains a hold due to persistent headwinds despite strong profitability and reasonable valuation metrics.Shifting generational drinking habits and a shrinking Baby Boomer cohort present long-term demand risks for BUD.Potential tailwinds include currency benefits from a weaker dollar and inflation positioning, with non-alcoholic beverages showing notable growth.BUD’s high margins and improving balance sheet are attractive, but sustained demand concerns and limited dividend growth keep my rating at hold. jetcityimage/iStock Editorial via Getty Images
Thesis: I remain stuck at a hold with Anheuser-Busch InBev SA/NV (BUD) despite solid profitability and reasonable valuation metrics. Sustained headwinds, including a global cool-off in drinking habits among younger generations, keep me at a
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Americké portfolio Beyond Beer společnosti AB InBev zvýšilo ve 2. čtvrtletí 2026 tržby o zhruba 75 %, taženo poptávkou po hotových alkoholických nápojích.
Key Takeaways BUD's U.S. Beyond Beer portfolio posted mid-70% revenue growth in Q2 2026, driven by strong RTD demand.Cutwater delivered revenue growth, becoming the No. 1 market share gainer in the U.S. spirits industry.BUD is leveraging NUTRL, BeatBox and distribution strength to expand its RTD reach amid rising competition. Anheuser-Busch InBev SA/NV (BUD - Free Report) , popularly known as AB InBev, is gaining momentum in the U.S. Beyond Beer category, supported by strong consumer demand, portfolio innovation and continued investments in high-growth beverage segments. In second-quarter 2026, the company's U.S. Beyond Beer portfolio delivered revenue growth in the mid-70% range, reflecting its expanding presence beyond traditional beer. The performance highlights BUD's efforts to diversify its product offerings and capture evolving consumer preferences, particularly in the rapidly growing ready-to-drink (RTD) spirits category.
A major contributor to this momentum has been Cutwater, which recorded triple-digit revenue growth during the quarter. The brand emerged as the No. 1 market share gainer across the U.S. spirits industry, reflecting strong consumer acceptance and effective market execution. AB InBev continues to expand Cutwater's product variety to address different consumption occasions and strengthen its competitive position. Alongside Cutwater, the company is leveraging its NUTRL portfolio and the recently acquired BeatBox business to broaden its exposure to the RTD category and reach a wider consumer base.
BUD's established brand-building capabilities, extensive distribution network and investments in production capacity are supporting its Beyond Beer expansion. Management emphasized that the company faces no significant supply constraints in the RTD segment, providing room to expand distribution and improve sales productivity. AB InBev also sees meaningful opportunities to increase its presence across markets as demand develops. Beyond the United States, the company expanded the availability of Flying Fish into eight markets during the first half of 2026, underscoring its strategy to scale Beyond Beer brands internationally and diversify its revenue streams.
Looking ahead, BUD's Beyond Beer business appears well-positioned to benefit from changing drinking preferences and growing consumer interest in convenient, differentiated alcoholic beverages. Its ability to combine product innovation, brand investments and distribution strength could support further market share gains and incremental revenue growth. However, intensifying competition from established spirits producers and emerging RTD brands remains an important factor to monitor. Sustaining the current momentum will depend on continued innovation, effective execution and the company's ability to translate rising consumer demand into profitable long-term growth.
BUD’s Price Performance, Valuation & EstimatesAB InBev’s shares have gained 30% in the past year compared with the industry’s 15.3% growth.
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From a valuation standpoint, BUD trades at a forward price-to-earnings ratio of 16.37X compared with the industry’s average of 14.53X.
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The Zacks Consensus Estimate for BUD’s 2026 and 2027 earnings per share (EPS) indicates year-over-year growth of 17.4% and 11.8%, respectively. The company’s EPS estimates for 2026 and 2027 have remained stable in the past seven days.
Image Source: Zacks Investment Research
AB InBev stock currently carries a Zacks Rank #3 (Hold).
Stocks to ConsiderDiageo Plc (DEO - Free Report) is a global beverage alcohol company that produces, distills, brews, bottles, packages and distributes spirits, wine and beer. DEO currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for DEO’s fiscal 2027 sales implies a decline of 3.1%, while the same for earnings suggests 2.1% growth from the previous year’s reported numbers.
The Coca-Cola Company (KO - Free Report) is the world's largest non-alcoholic beverage company, marketing a broad portfolio of sparkling soft drinks, water, juice, coffee, tea and sports beverages. It currently carries a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for Coca-Cola’s 2026 sales and earnings indicates growth of 4% and 10%, respectively, from the prior-year reported levels. KO delivered a trailing four-quarter earnings surprise of 4.6%, on average.
Ambev S.A. (ABEV - Free Report) engages in the production, distribution and sale of beer, draft beer, soft drinks, malt and food, and other beverages. ABEV currently carries a Zacks Rank #2.
The Zacks Consensus Estimate for ABEV’s current fiscal-year sales and earnings indicates growth of 14.6% and 16.7%, respectively.
AB InBev ve 2. čtvrtletí zvýšil tržby z nealkoholického piva o 27 % díky rostoucí poptávce. V USA rostly v mid-thirties, v Mexiku objemy v high-thirties a v Brazílii v low-thirties.
Key Takeaways AB InBev's no-alcohol beer revenues rose 27% in Q2'26 amid growing demand.AB InBev's U.S. no-alcohol beer revenues grew in the mid-thirties, led by Michelob Ultra Zero.AB InBev saw no-alcohol beer volumes grow at high-thirties and low-thirties rates in Mexico and Brazil. Anheuser-Busch InBev SA/NV (BUD - Free Report) , alias AB InBev, is expanding its zero-alcohol beer portfolio as consumer preferences shift toward balanced choices and more mindful drinking occasions. The company’s no-alcohol beer revenues increased 27% in the second quarter of 2026, highlighting growing demand for alternatives that offer the taste and experience of beer with lower alcohol content. The company’s Balanced Choices portfolio, which includes low-carb, low-calorie, sugar-free, gluten-free and no-alcohol offerings, delivered 13% revenue growth during the quarter, with no-alcohol beer leading performance.
AB InBev’s strategy focuses on providing consumers with more options across occasions while strengthening its leadership in emerging beverage segments. The company noted that its no-alcohol beer portfolio gained share and reinforced its leadership position in the category by value, according to Nielsen. In the United States, AB InBev remained the leader in no-alcohol beer, with its portfolio gaining share and revenue growing in the mid-thirties, led by Michelob Ultra Zero.
The momentum is also visible across international markets. In Mexico, AB InBev strengthened its position in no-alcohol beer, with its portfolio growing volume at a high-thirties rate, supported by Modelo Cero and the launch of Michelob Ultra Zero. In Brazil, the company highlighted Balanced Choices as a key growth area, with its no-alcohol beer portfolio volumes growing in the low-thirties.
As health-conscious consumers increasingly seek moderation without compromising on brand experience, AB InBev’s zero-alcohol innovations could help broaden its consumer base. By combining established brands with evolving product choices, the company aims to capture new occasions and strengthen long-term category growth.
BUD’s Price Performance, Valuation & EstimatesAB InBev’s shares have rallied 24.8% in the past year compared with the industry’s 12.3% growth.
Image Source: Zacks Investment Research
From a valuation standpoint, BUD trades at a forward price-to-earnings ratio of 15.53X compared with the industry’s average of 14.18X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for BUD’s 2026 and 2027 earnings per share (EPS) indicates year-over-year growth of 17.7% and 12.3%, respectively. The company’s EPS estimates for 2026 and 2027 have moved up by a penny in the past seven days. AB InBev currently carries a Zacks Rank #3 (Hold).
Image Source: Zacks Investment Research
Stocks to Consider in the Consumer Staples SpaceThe Chefs' Warehouse, Inc. (CHEF - Free Report) , which is a distributor of specialty food products in the United States, currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Chefs' Warehouse's current financial-year sales and EPS indicates growth of 10.7% and 33.7%, respectively, from the prior-year reported levels. CHEF delivered a trailing four-quarter earnings surprise of 30.4%, on average.
Diageo Plc (DEO - Free Report) is a global beverage alcohol company operating in approximately 180 countries. The company currently carries a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for Diageo’s current financial-year EPS is expected to rise 2.1% from the year-ago reported figure.
Lamb Weston Holdings, Inc. (LW - Free Report) is a leading global manufacturer, marketer and distributor of value-added frozen potato products, particularly French fries, and also provides a range of appetizers. The company currently carries a Zacks Rank of 2.
The Zacks Consensus Estimate for Lamb Weston’s current financial-year EPS indicates growth of 1.7% from the year-ago number. LW delivered a trailing four-quarter earnings surprise of 24.6%, on average.
Anheuser-Busch InBev nově cílí na průměrný roční růst EBIT o 5 % až 9 % a přechází z cíle EBITDA na EBIT. Firma to označila za fázi „reignite“ zaměřenou na růst a využití aktiv.
Treasury Yields Hit a 19-Year High—These 2 Bond ETFs Offer Monthly IncomeAnheuser-Busch InBev SA/NV NYSE: BUD outlined a new medium-term target for 5% to 9% average annual EBIT growth as the brewer shifts its primary performance measure from EBITDA to EBIT, citing improved balance-sheet strength, capital efficiency and an increased focus on organic growth.
Speaking at the company’s 2026 Capital Markets Day in St. Louis, Chief Financial Officer Fernando Tennenbaum said the company’s strategy to “optimize our business” centers on consistent growth, disciplined resource allocation, free cash flow generation and dynamic capital allocation.
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The World Cup Is Coming—These 3 Stocks Could Cash In“We want to maximize shareholder value over time,” Tennenbaum said, adding that investments, operating decisions and capital allocation choices are being evaluated through that lens.
Growth, Margins and Cash Flow Tennenbaum said AB InBev has invested more than $7 billion annually in sales and marketing on average since 2021, supporting its brands, commercial platforms and operating capabilities. He said the company’s revenue has compounded at a mid-single-digit rate over the past five years, supported by volume, revenue management and favorable mix.
Before the IPO: 4 Companies That Rewarded Investors Who Got In EarlyThe CFO said the company expanded gross margin by 200 basis points and EBITDA margin by 220 basis points between 2023 and 2025. The improvement came as input costs increased broadly in line with inflation, allowing the brewer to pursue disciplined revenue management, production efficiencies and overhead-cost controls while continuing brand investment.
Underlying earnings per share increased at an 8.3% compound annual growth rate since 2021, according to Tennenbaum. He also said return on invested capital has risen 120 basis points since 2021, driven by profit growth and improved capital efficiency.
AB InBev reduced net capital expenditures to $3.6 billion in 2025 from $5.5 billion in 2021. Nearly half of capital expenditures have been directed toward growth projects, including a $400 million brewery in Colombia, expanded Beyond Beer, premium beer and non-alcohol beer production, and supply-chain investments.
The company said it is targeting an average water-use efficiency ratio of two hectoliters of water per hectoliter of production across its global breweries by 2030.
Free cash flow rose from $9 billion in 2021 to nearly $14 billion over the 12 months ended June 30, 2026, Tennenbaum said. He cited EBITDA growth, disciplined capital expenditures, lower net interest expense from deleveraging and the company’s negative working-capital cycle as factors supporting cash generation.
Capital Allocation Priorities AB InBev said its first capital allocation priority remains funding organic growth. After that, excess cash is allocated among deleveraging, shareholder returns and selective mergers and acquisitions.
The company allocated $25 billion of cash toward debt reduction from 2021 through 2025 and reached a net debt-to-EBITDA ratio below 3 times for the first time since 2015, according to Tennenbaum. Leverage stood at 2.87 times at the end of 2025, while the company’s stated optimal capital structure remains around 2 times.
Management said it intends to fully fund growth plans, progressively raise its dividend, complete its current $6 billion share repurchase program and continue strengthening the balance sheet. AB InBev has completed $5.5 billion in share repurchases since 2023, with $3.7 billion remaining under a 24-month program announced in October 2025.
Tennenbaum said acquisitions and divestitures must compete with organic investments for capital. He pointed to bolt-on acquisitions including BeatBox, as well as earlier acquisitions of Cutwater and NÜTRL, while noting the company has sold non-core brands and assets in the U.S.
Shift to EBIT Outlook Management said the move from an EBITDA target to an EBIT target reflects the company’s transition from a “reset” phase focused on deleveraging and capability building to a “reignite” phase centered on growth and asset utilization.
“When you move into reignite, it’s not only the growth that you generate, but how you grow,” Tennenbaum said in response to an analyst question. He added that depreciation is a lagging indicator and that the company still expects some benefit from lower capital spending to emerge in depreciation expense.
The company maintained its 2026 outlook for EBITDA growth of 4% to 8% and said it will provide an outlook for 2027 when it reports full-year 2026 results.
Chief Executive Officer Michel Doukeris said the company aims to sustain growth, accelerate growth investments and translate those efforts into shareholder value. He described beer as the company’s core business while identifying Beyond Beer, digital products and selected adjacent categories as opportunities that can complement its existing brands and route-to-market capabilities.
Doukeris said Beyond Beer currently represents a $2 billion business growing at more than 30%, according to his remarks. He also said the company will assess additional opportunities market by market, provided they offer attractive returns and leverage AB InBev’s existing assets.
In Asia, Doukeris said AB InBev sees long-term potential but acknowledged challenges in China, where post-pandemic shifts in geography and sales channels affected the business. He said the company is adjusting its portfolio, channel strategy and geographic focus. Outside China, he cited share gains in South Korea, high-double-digit growth in parts of Southeast Asia and a more than 20% share position in India.
“The Reset is complete, and the Reignite has begun,” Doukeris said in closing the event.
About Anheuser-Busch InBev SA/NV (NYSE:BUD)Anheuser-Busch InBev SA/NV is a global brewing and beverage company headquartered in Leuven, Belgium. The company produces, markets and distributes beer and other alcoholic and nonalcoholic beverages through a broad portfolio of international, regional and local brands.
Its leading brands include Budweiser, Bud Light, Corona, Stella Artois, Michelob ULTRA, Beck's, Hoegaarden and Leffe. AB InBev also offers a range of craft, premium, flavored and alcohol-free beverages, serving consumers through retail, hospitality and e-commerce channels.
The company was formed in 2008 through the combination of InBev and Anheuser-Busch, bringing together Anheuser-Busch's U.S.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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Anheuser-Busch InBev na Capital Markets Day zdůraznila přechod k organickému růstu a disciplíně v alokaci kapitálu. Firma uvedla, že snížila kapitálové výdaje z 5,5 miliardy na 3,6 miliardy USD, zatímco tržby, objem i portfolio dál rostly.
The World Cup Is Coming—These 3 Stocks Could Cash InAt its Capital Markets Day, Anheuser-Busch InBev SA/NV NYSE: BUD emphasized its corporate culture, long-term growth strategy and U.S. sales capabilities, with CEO Michel Doukeris describing ownership and disciplined execution as central to the brewer’s effort to build an “organic compounding machine.”
Doukeris said the company has simplified and refreshed its 10 corporate principles over the past five years, placing ownership at the forefront. The principles are intended to provide a common operating framework for the company’s approximately 130,000 employees across regions including North America, Latin America and Africa, he said.
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Before the IPO: 4 Companies That Rewarded Investors Who Got In Early“Treating the company as owners is one of the most important things for us,” Doukeris said, noting that a significant portion of management compensation is linked to shares, restricted stock units and performance stock units.
Culture, Growth and Brand Investment Doukeris said AB InBev has shifted from a strategy centered on acquisitions to one focused on consistently compounding organic growth, with the goal of translating revenue growth into stronger earnings and shareholder returns. He said the company seeks to benchmark itself against peers, improve productivity and focus resources on the areas with the greatest potential impact.
Anheuser-Busch Stock Jumps as Volume Growth Signals TurnaroundHe pointed to Michelob ULTRA as an example of sustained brand development, describing it as the No. 1 brand and fastest-growing brand in the U.S. He said the brand has evolved from a small player roughly two decades ago into a global platform that is expanding across the Americas.
Doukeris also highlighted the company’s non-alcohol beer business. He said internal debate had once centered on whether the segment was sufficiently attractive to warrant greater investment, but advances in brewing technology and a decision to invest behind a global Olympic sponsorship helped the company establish a leadership position in the category.
“It was necessary to commit, it was necessary to take the leadership, it was necessary to invest ahead of time,” Doukeris said.
The company is tracking the number of consumers who say they love its brands as a key performance indicator, he said. Doukeris also cited Stella Pure Gold in Brazil as an example of portfolio innovation aimed at consumer interest in lower-carbohydrate, lower-calorie and gluten-free offerings.
Long-Term Planning and Portfolio Rebalancing Doukeris said AB InBev’s long-term planning supports investment decisions across brand building, supply chain and innovation. He said the company reduced capital expenditures from $5.5 billion to $3.6 billion while revenue, volume and portfolio development continued to grow. The savings, he said, resulted from productivity efforts, more coordinated long-term capacity planning and supplier negotiations.
He said those savings have allowed the company to reinvest in brand-building platforms, including the Olympics and UEFA Champions League.
Doukeris also reiterated the company’s focus on Beyond Beer, a category that includes ready-to-drink and mixed beverages. He said the business has reached $2 billion and is growing less than 10 years after the company began pursuing the opportunity. In the U.S., he cited Cutwater, NÜTRL and BeatBox as brands contributing to growth in spirits, saying the three-brand portfolio was up 37% year to date.
In discussing the U.S. business, Doukeris said the company has spent years rebalancing its portfolio toward faster-growing industry segments rather than attempting to offset declines in legacy brands through short-term measures. He said about half of the company’s U.S. portfolio is now in growing parts of the alcohol industry.
U.S. Route-to-Market Capabilities Simon Wuestenberg, chief sales officer for AB InBev’s U.S. business, said the brewer’s sales strategy is built around close coordination with nearly 400 independently owned wholesalers in the country’s three-tier alcohol system.
Those wholesalers deploy approximately 10,000 sales representatives and call on roughly 500,000 accounts, Wuestenberg said. On average, those accounts are visited more than once a week.
AB InBev has expanded its use of technology to help wholesalers prioritize sales opportunities, Wuestenberg said. The company’s AI-based tools analyze data points at individual accounts and recommend the actions expected to have the greatest impact, including opportunities to expand distribution for brands such as Michelob ULTRA, Busch Light and Cutwater.
AB InBev’s sales technology is fully adopted by its wholesaler system, according to Wuestenberg. The company serves about 350,000 independent accounts where decisions are made store by store or bar by bar. AB InBev has increased its category-captain role from 50% of industry stores and dollars to more than 70%, Wuestenberg said. Wuestenberg said chain retailers are also becoming increasingly important as sales shift toward larger and more consolidated groups. He said AB InBev is using category management, revenue management and trade-marketing capabilities to help retailers grow beer and Beyond Beer sales.
He also highlighted local activation of large marketing platforms. During the FIFA World Cup, Michelob ULTRA increased on-premise distribution by 13%, he said, while AB InBev and its wholesalers executed nearly 40,000 soccer-themed activations that reached more than 2 million consumers. The company plans to extend this approach to all of its mega brands in 2027, according to Wuestenberg.
About Anheuser-Busch InBev SA/NV (NYSE:BUD)Anheuser-Busch InBev SA/NV is a global brewing and beverage company headquartered in Leuven, Belgium. The company produces, markets and distributes beer and other alcoholic and nonalcoholic beverages through a broad portfolio of international, regional and local brands.
Its leading brands include Budweiser, Bud Light, Corona, Stella Artois, Michelob ULTRA, Beck's, Hoegaarden and Leffe. AB InBev also offers a range of craft, premium, flavored and alcohol-free beverages, serving consumers through retail, hospitality and e-commerce channels.
The company was formed in 2008 through the combination of InBev and Anheuser-Busch, bringing together Anheuser-Busch's U.S.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
Should You Invest $1,000 in Anheuser-Busch InBev SA/NV Right Now?Before you consider Anheuser-Busch InBev SA/NV, you'll want to hear this.
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The World Cup Is Coming—These 3 Stocks Could Cash InAnheuser-Busch InBev SA/NV NYSE: BUD used its 2026 Capital Markets Day in St. Louis to outline the next phase of its 10-year strategy, emphasizing organic growth, portfolio expansion, digital platforms and increased capital-allocation flexibility.
Chief Executive Officer Michel Doukeris said the brewer has completed the first half of its plan, known internally as “Reset,” and is entering a new phase called “Reignite.” The company reiterated its focus on delivering consistent, compounding EBITDA growth within its 4% to 8% outlook range while increasing investments intended to accelerate growth.
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Before the IPO: 4 Companies That Rewarded Investors Who Got In EarlyDoukeris said ABI’s EBITDA increased from $19.2 billion in 2021 to $22.4 billion over the last 12 months, while net revenue rose from $54 billion to about $63 billion. Free cash flow reached $13.9 billion, up $4.6 billion since 2021, and the company reduced its net-debt ratio to below three times.
Growth strategy centers on beer, premiumization and digital platforms Chief Growth Officer Ricardo Tadeu said ABI expects structural beer-volume growth of roughly 0.3% to 0.5% annually across its footprint based on historical market trends. He said emerging and developing markets are a key advantage for ABI, accounting for more than 60% of its volume, and claimed the company captured 98% of beer-volume growth in those regions since 2019.
Anheuser-Busch Stock Jumps as Volume Growth Signals TurnaroundTadeu said ABI’s growth model is designed to combine volume growth, net revenue per hectoliter expansion and cash-flow generation rather than pursuing volume “at any cost.” The company is concentrating marketing support behind fewer brands, reducing the number of brands receiving meaningful investment from about 500 to 50.
Chief Marketing Officer Marcel Marcondes said those priority brands, referred to as “mega brands,” now represent 60% of ABI’s volume. The company has also built major marketing platforms around sports, music, travel and entertainment, including partnerships involving FIFA, the Olympics, tennis, the NBA, UEFA Champions League, Netflix and Live Nation.
Marcondes said ABI’s innovation business generates more than $6 billion annually. Its growth framework includes four principal levers:
Superior core beer brands supported by affordability and local relevance. Premiumization through Corona, Stella Artois, Michelob ULTRA and Budweiser. “Balanced choices,” including non-alcoholic and lower-calorie or lower-carbohydrate beers. Beyond-beer products, including ready-to-drink cocktails, flavored beverages and other spirits-based offerings. The balanced-choices portfolio now represents 11% of ABI’s business, Marcondes said. He added that the company’s beyond-beer revenue is growing 37%, though ABI described itself as a challenger rather than a category leader in that segment.
D2C and BEES scale data-driven commercial capabilities Chief Direct to Consumer Officer Lucas Herscovici said ABI’s direct-to-consumer platforms, including Zé Delivery, TaDa and PerfectDraft, are becoming a competitive advantage in consumer insights, brand building and innovation testing. During the first half of 2026, D2C net revenue increased 9%, active consumers rose 11%, and more than 4 million consumers were enrolled in the company’s rewards programs, he said.
Herscovici said online beer sales have grown five times faster in ABI’s D2C markets than in its non-D2C markets. He also said the company can use D2C platforms to test concepts, target product sampling and identify demand signals sooner than traditional methods.
Chief B2B Officer Nick Caton said BEES, ABI’s business-to-business platform, is live in 30 markets, connects more than 4 million retailers and generates about $60 billion in annualized gross merchandise value. BEES Marketplace generates around $5 billion of GMV and is expected to rank among ABI’s top 10 contributors to EBITDA growth this year, Doukeris said.
Caton said BEES has increased retailer engagement, with more than one-third of orders placed outside business hours and more than 3 million active members in its Club B rewards program. He said retailer net promoter scores have improved by more than 45 points to 71 since BEES was implemented.
In Brazil, Caton said BEES helped expand the number of buyers served from about 750,000 to 1.3 million and increased SKUs per buyer by roughly 20%. The company is also expanding its third-party platform model, through which partner companies digitize their own routes to market using BEES. That model represented more than half of BEES Marketplace GMV, according to Caton.
U.S. portfolio rebalance targets growth categories Brendan Whitworth, CEO of ABI’s North America zone, said the U.S. business has broadened from beer into spirits-based ready-to-drink products and energy drinks. He said ABI now competes across an almost $190 billion total-alcohol market, which grew 6% over the past five years, with energy representing a potential additional $25 billion addressable market.
Whitworth said brands above core beer and in beyond beer now account for about 48% of U.S. net revenue. He highlighted Michelob ULTRA, Busch Light, Cutwater, NÜTRL and recently acquired BeatBox as important growth brands. Cutwater is the largest ready-to-drink cocktail brand, according to Whitworth, while Michelob ULTRA and Busch Light have supported ABI’s U.S. beer-share growth since late 2024.
The company said it has also streamlined its U.S. portfolio, eliminating more than 60% of beyond-beer SKUs, more than 75% of craft SKUs and more than 30 brands. Whitworth said ABI has invested $2 billion in its U.S. supply chain in recent years, including capacity for non-alcoholic beer and spirits production.
ABI executives said the company intends to continue prioritizing a smaller number of brands and platforms while using data, artificial intelligence and its distribution ecosystem to support long-term growth.
About Anheuser-Busch InBev SA/NV (NYSE:BUD)Anheuser-Busch InBev SA/NV is a global brewing and beverage company headquartered in Leuven, Belgium. The company produces, markets and distributes beer and other alcoholic and nonalcoholic beverages through a broad portfolio of international, regional and local brands.
Its leading brands include Budweiser, Bud Light, Corona, Stella Artois, Michelob ULTRA, Beck's, Hoegaarden and Leffe. AB InBev also offers a range of craft, premium, flavored and alcohol-free beverages, serving consumers through retail, hospitality and e-commerce channels.
The company was formed in 2008 through the combination of InBev and Anheuser-Busch, bringing together Anheuser-Busch's U.S.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
Should You Invest $1,000 in Anheuser-Busch InBev SA/NV Right Now?Before you consider Anheuser-Busch InBev SA/NV, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Anheuser-Busch InBev SA/NV wasn't on the list.
While Anheuser-Busch InBev SA/NV currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
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The AI wave will soon hit public markets with Anthropic and OpenAI set to go public later this year. However, you don't have to wait to invest. This report shows seven AI stocks that you can buy today while the big model providers get ready to go public.
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AB InBev chce růst díky menším balením, pivu s proteinem či elektrolyty a širšímu prodeji nápojů mimo pivo. Firma zároveň rozšiřuje nabídku nealko a energetických nápojů.
Anheuser-Busch InBev (ABI.BR) will sell smaller pack sizes, beers with added protein or electrolytes and push further into drinks beyond beer, executives said on Tuesday, as the top brewer looks to grow amid shifting drinking habits, strained incomes and a trend towards health and wellness.
The world's largest brewer by market value will look to drive higher beer consumption and grow revenue from non-beer products like canned cocktails and energy drinks, executives told investors at a capital markets event.
Brewers including AB InBev, which makes labels like Corona and Stella Artois, have been battling to grow beer volumes and revive weak demand in some large markets like the United States as some consumers cut back, prompted by pressure on their wallets or changing tastes.
AB InBev Chief Marketing Officer Marcel Marcondes said one aim was to grow consumption among infrequent beer drinkers, with budget-conscious consumers in this category presenting the most significant opportunity.
"Data is showing us huge opportunities to make beer more affordable, especially in developing markets," he said, adding AB InBev will address this by increasing both smaller pack sizes and larger ones offering higher quantities for less.
Increasing non-alcoholic beer consumption during casual meals presented another major opportunity, he said, adding AB InBev would drive that via zero-alcohol beers with different flavours, low calories and even protein or electrolytes. The company has launched a version of its Spaten beer with added protein in Brazil.
In the US especially, AB InBev has also been pushing into categories other than beer, including with top-selling canned cocktail label Cutwater and some energy drinks. Executives said it would expand further in these areas, with energy drinks alone potentially adding $25 billion to AB InBev's addressable market.
"In this space, we are the challengers, which gives us huge headroom for growth," CEO Michel Doukeris said.
LEADING AMERICAN MANUFACTURER CONTINUES TO DELIVER ON $600 MILLION COMMITMENT, FUELING PRODUCTION OF MICHELOB ULTRA, THE #1 TOP-SELLING & FASTEST GROWING BEER IN THE U.S.
, /PRNewswire/ -- Today, Anheuser-Busch [NYSE: BUD], a leading American manufacturer and maker of Michelob ULTRA, Busch Light, Budweiser, Bud Light, Cutwater Spirits and NÜTRL Vodka Seltzer, announced a $23 million investment in its Fort Collins, Colorado facility. This investment will help Anheuser-Busch, the #1 fastest-growing supplier in total alcohol,1 fuel increased production of Michelob ULTRA and expand local manufacturing skills training.
Fort Collins Brewery Today's announcement is part of Anheuser-Busch's ongoing Brewing Futures initiative through which the company is investing $600 million in its U.S. operations across 2025 and 2026. The initiative builds on Anheuser-Busch's commitment to investing in people, breweries and communities by creating and sustaining manufacturing jobs, building the manufacturing workforce for the future, and strengthening manufacturing career opportunities for Veterans.
Brendan Whitworth, CEO, Anheuser-Busch said: "Our investment in the Fort Collins Brewery strengthens our ability to brew and deliver the world-class beers consumers know and love, including Michelob ULTRA. As a proud American manufacturer, investments at this scale help fuel economic growth, create and sustain high-quality jobs, and reinforce our long-term commitment to the communities where we live and work."
This new $23 million investment in Anheuser-Busch's Fort Collins Brewery will help expand our capacity to produce fast-growing brands like Michelob ULTRA, adding capabilities to produce 25-oz cans to meet growing consumer demand. It will also increase rail capacity, strengthening transportation capabilities and route to market.
Anheuser-Busch will also open a new technical skills training center inside the Fort Collins Brewery—one of the company's 15 new centers nationwide—to upskill our operators and technicians in electrical and mechanical systems associated with brewery equipment. The company plans to upskill more than 90% of its manufacturing workforce over the next five years.
Colorado State Representative Andrew Boesenecker (D-Larimer) said: "Anheuser-Busch's $23 million investment in the Fort Collins Brewery is tremendous news for our community and our state. This facility has been a backbone of Fort Collins' economy for 38 years, providing hundreds of quality manufacturing jobs and strengthening our local tax base. This investment reaffirms Anheuser-Busch's commitment to Colorado and demonstrates confidence in our workforce and community. We look forward to continuing this strong partnership and seeing the positive impact this expansion will have on Fort Collins and the surrounding region."
Nestled in the Rockies, the Fort Collins Brewery has been an important part of the local community since 1988 and produces more than 48 brands including Michelob ULTRA, Busch Light, Budweiser, and Bud Light. The company has invested $93 million in its Fort Collins facilities since 2021 and remains commitment to being a key economic driver in the state of Colorado. Alongside the Cartersville Brewery, the Fort Collins Brewery is one of two Anheuser-Busch breweries that produce emergency drinking water. To date, Anheuser-Busch has produced more than 100 million cans of emergency drinking water for communities impacted by disaster since 1988.
ABOUT ANHEUSER-BUSCH
At Anheuser-Busch, our purpose is to create a future with more cheers. For more than 165 years as a leading American manufacturer, we have delivered a legacy of brewing great-tasting, high-quality beers that have satisfied beer drinkers for generations. As the nation's top brewer, one of the fastest growing spirits companies, and an insurgent force in energy drinks, we drive economic prosperity nationwide through investments in our people, facilities, and communities. We are the only alcohol company that invests in the U.S. at this scale.
We make the nation's most iconic beers, ready-to-drink spirits and beyond beer brands, including Michelob ULTRA – America's #1 top-selling and fastest-growing beer – Busch Light, Budweiser, Bud Light, Stella Artois, Cutwater Spirits, NÜTRL Vodka Seltzer, BeatBox, industry-leading craft beers and non-alcohol beers like Michelob ULTRA Zero. We are guided by our commitment to the communities we call home and to the 65,000 hardworking Americans who bring our products to life. That's who we are. For more information, visit www.anheuser-busch.com or follow Anheuser-Busch on LinkedIn, X, Facebook, and Instagram.
Anheuser-Busch investuje 21 milionů USD do závodů v Los Angeles a Mira Loma, aby zvýšil výrobu Michelob ULTRA a Cutwater. Součástí je i nové technické školicí centrum.
LEADING AMERICAN MANUFACTURER CONTINUES TO DELIVER ON $600 MILLION COMMITMENT, FUELING INCREASED PRODUCTION OF MICHELOB ULTRA AND CUTWATER
, /PRNewswire/ -- Today, Anheuser-Busch [NYSE: BUD], a leading American manufacturer and maker of Michelob ULTRA, Busch Light, Budweiser, Bud Light, Cutwater Spirits and NÜTRL Vodka Seltzer, announced a $21 million investment in its Los Angeles and Mira Loma, California facilities. This investment will help Anheuser-Busch, the #1 fastest-growing supplier in total alcohol,1 fuel increased production of Michelob ULTRA and Cutwater and expand local manufacturing skills training.
Los Angeles Brewery Today's announcement is part of Anheuser-Busch's ongoing Brewing Futures initiative through which the company is investing $600 million in its U.S. operations across 2025 and 2026. The initiative builds on Anheuser-Busch's commitment to investing in people, breweries and communities by creating and sustaining manufacturing jobs, building the manufacturing workforce for the future, and strengthening manufacturing career opportunities for Veterans.
Brendan Whitworth, CEO, Anheuser-Busch said: "Anheuser-Busch is committed to supporting the communities where our employees live and work. Investments in facilities like Los Angeles and Mira Loma help us strengthen our operations while creating and sustaining jobs and continuing to drive economic growth throughout California. We're proud to continue investing in American manufacturing and in the hardworking Californians who help to produce America's most iconic beer and spirits brands every day."
This new $21 million investment in Anheuser-Busch's Southern California facilities help fuel production of Michelob ULTRA, the #1 top-selling and fastest-growing beer in America,2 while upgrading canning and bottling operations. It will also enhance production of Cutwater, the #1 spirits-based cocktail brand in the U.S.3, and Phorm Energy, a top 15 brand in total energy.4 Additionally, the investment will increase rail capacity, strengthening transportation capabilities and route to market.
Anheuser-Busch will also open a new technical skills training center inside the Los Angeles Brewery—one of 15 new centers nationwide—to upskill our operators and technicians in electrical and mechanical systems associated with brewery equipment. The company plans to upskill more than 90% of its manufacturing workforce across the U.S. over the next five years.
U.S. Representative Luz Rivas (CA-29) said: "Anheuser-Busch's investment in its Los Angeles brewery in Van Nuys demonstrates the company's longtime commitment to the San Fernando Valley and the greater LA area. Its upgraded operations, along with the new skills training, will help create and sustain jobs right here in Southern California. I'm grateful for Anheuser-Busch's continued investment in our workforce and our economy."
California State Senator Caroline Menjivar (D–San Fernando Valley) said: "Since 1954, the Anheuser-Busch Brewery in Van Nuys, has been a vital employer in Senate District 20. This additional $21 million investment shows Anheuser-Busch's continued commitment to its local operations building economic prosperity in Van Nuys and building California's manufacturing future. By coupling facility improvements with expanded technical skills training, Anheuser-Busch is creating real opportunities for Californians to advance into steady manufacturing careers. Anheuser-Busch's continued investment in their workers plays a part in strengthening the future of American manufacturing, right here in Southern California."
California State Assemblyman Jesse Gabriel (D-Encino) said: "I applaud Anheuser-Busch's commitment to continued investment in California and the San Fernando Valley. This $21 million investment will strengthen California's manufacturing sector, create pathways to long-term careers, support workers, and benefit our local economy."
Anheuser-Busch has proudly called Los Angeles home for over 70 years, investing $184 million in its Los Angeles and Mira Loma facilities since 2021, and remains committed to being a key economic driver on the West Coast. Hundreds of Californians are employed at these facilities, producing more than 50 Anheuser-Busch brands at the Los Angeles Brewery.
ABOUT ANHEUSER-BUSCH
At Anheuser-Busch, our purpose is to create a future with more cheers. For more than 165 years as a leading American manufacturer, we have delivered a legacy of brewing great-tasting, high-quality beers that have satisfied beer drinkers for generations. As the nation's top brewer, one of the fastest growing spirits companies, and an insurgent force in energy drinks, we drive economic prosperity nationwide through investments in our people, facilities, and communities. We are the only alcohol company that invests in the U.S. at this scale.
We make the nation's most iconic beers, ready-to-drink spirits and beyond beer brands, including Michelob ULTRA – America's #1 top-selling and fastest-growing beer – Busch Light, Budweiser, Bud Light, Stella Artois, Cutwater Spirits, NÜTRL Vodka Seltzer, BeatBox, industry-leading craft beers and non-alcohol beers like Michelob ULTRA Zero. We are guided by our commitment to the communities we call home and to the 65,000 hardworking Americans who bring our products to life. That's who we are. For more information, visit www.anheuser-busch.com or follow Anheuser-Busch on LinkedIn, X, Facebook, and Instagram.
1 Circana TUS MULC+ w/e 7/19/26
2 Circana TUS MULC+ Volume Sales w/e 7/19/26
3 Circana, $ Sales, YTD 07.19.26, TUS HB GEO
4 Circana Total US – MULC YTD Thru 8/30/2026
AB InBev zvyšuje sázku na prémiové značky, nealko a digitální distribuci. GMV BEES Marketplace ve 2. čtvrtletí meziročně vzrostlo o 50 % na 1,2 miliardy USD.
Key Takeaways AB InBev is investing in megabrands like Budweiser, Corona, Stella Artois and Michelob Ultra.Premium, no-alcohol and Beyond Beer offerings are expanding to meet evolving consumer preferences.BEES Marketplace GMV rose 50% to $1.2 billion, strengthening BUD's digital distribution ecosystem. Anheuser-Busch InBev SA/NV (BUD - Free Report) , also known as AB InBev, is pursuing growth through a combination of premiumization, investment in its megabrands, category expansion, innovation and digitalization. The company continues to increase investment in leading brands such as Budweiser, Corona, Stella Artois and Michelob Ultra, supported by marketing campaigns, sponsorships and consumer activations aimed at strengthening brand equity and driving international growth. Sales and marketing investment reached $4.1 billion in the first half of 2026, underscoring BUD’s commitment to supporting long-term brand growth.
The company is expanding its above-core and premium beer portfolio, particularly through Corona and Stella Artois. In the second quarter of 2026, the above-core portfolio generated 6.9% revenue growth, with these three brands delivering strong international growth. The company is expanding its Balanced Choices portfolio, including low-carb, low-calorie and no-alcohol offerings. Its no-alcohol beer portfolio continued to post strong growth in the second quarter.
With a growing focus on premium, higher-margin products and innovative offerings such as zero-sugar and no-alcohol beer, AB InBev is responding to evolving consumer preferences while supporting growth across key markets. The company is also expanding its Beyond Beer portfolio and accelerating digital transformation, with platforms such as BEES and Zé Delivery strengthening its connections with retailers and consumers. BUD’s B2B and direct-to-consumer ecosystems are becoming increasingly important growth engines, helping it better connect with retailers and consumers.
AB InBev has consistently invested in strengthening its brand portfolio while rapidly expanding its digital ecosystem through platforms such as BEES and Zé Delivery. Through BEES Marketplace, the company is digitizing its relationships with retailers, improving distribution efficiency and creating additional monetization opportunities. BEES Marketplace GMV grew 50% year over year to $1.2 billion in the second quarter, while total BEES GMV reached $15 billion, highlighting the growing scale of BUD’s digital platform.
In a nutshell, BUD is focused on driving growth by premiumizing its portfolio, expanding its presence in high-growth no-alcohol and Beyond Beer categories, and leveraging its global megabrands and digital distribution platform to broaden consumer reach and strengthen market penetration.
BUD’s Price Performance, Valuation and EstimatesAB InBev’s shares have gained 0.7% in the past six months compared with the industry’s 1.1% growth.
Image Source: Zacks Investment Research
From a valuation standpoint, BUD trades at a forward price-to-earnings ratio of 16.77X compared with the industry’s average of 15.15X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for BUD’s 2026 and 2027 earnings per share (EPS) indicates year-over-year growth of 17.7% and 12%, respectively. The company’s EPS estimates for 2026 and 2027 have moved upward in the past 30 days.
Image Source: Zacks Investment Research
AB InBev currently carries a Zacks Rank #3 (Hold).
Stocks to Consider in the Consumer Staples Space The Chefs' Warehouse, Inc. (CHEF - Free Report) , which is a distributor of specialty food products in the United States, currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Chefs' Warehouse's current financial-year sales indicates growth of 10.6% from the prior-year level. CHEF delivered a trailing four-quarter earnings surprise of 30.4%, on average.
Darling Ingredients (DAR - Free Report) , which is a global developer and producer of sustainable natural ingredients derived from edible and inedible bio-nutrients, currently carries a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for Darling Ingredients’ current financial-year sales is expected to rise 11.5% from the year-ago reported figure. DAR delivered a trailing four-quarter earnings surprise of 38.9%, on average.
Medifast, Inc. (MED - Free Report) , which is a leading manufacturer and distributor of clinically-proven healthy living products and programs, currently carries a Zacks Rank of 2. MED delivered an average earnings surprise of 58.2% in the last reported quarter.
The Zacks Consensus Estimate for Medifast’s current financial-year sales indicates a decline of 25.9% from the year-ago number.
Anheuser-Busch investuje 13 milionů USD do závodu v Baldwinsville v New Yorku s cílem zvýšit výrobu Michelob ULTRA a Cutwater a rozšířit školení dovedností. Součástí je i nové technické školicí centrum.
LEADING AMERICAN MANUFACTURER CONTINUES TO DELIVER ON $600 MILLION COMMITMENT, FUELING PRODUCTION OF MICHELOB ULTRA AND ADDING CUTWATER PRODUCTION CAPABILITIES
, /PRNewswire/ -- Today, Anheuser-Busch (NYSE: BUD), a leading American manufacturer and maker of Michelob ULTRA, Busch Light, Budweiser, Bud Light, Cutwater Spirits and NÜTRL Vodka Seltzer, announced a $13 million investment in its Baldwinsville, New York facility. This investment will help Anheuser-Busch, the #1 fastest-growing supplier in total alcohol,1 meet growing consumer demand for Michelob ULTRA and Cutwater, the top 2 fastest-growing alcohol brands in the country,2 and expand local manufacturing skills training.
Baldwinsville Brewery This latest investment is part of Anheuser-Busch's ongoing Brewing Futures initiative through which the company is investing $600 million in its U.S. operations across 2025 and 2026. The initiative builds on Anheuser-Busch's commitment to investing in people, breweries and communities by creating and sustaining manufacturing jobs, building the manufacturing workforce for the future, and strengthening manufacturing career opportunities for veterans.
Brendan Whitworth, CEO, Anheuser-Busch said: "Anheuser-Busch is committed to supporting the communities where our employees live and work. Investments in facilities like our Baldwinsville Brewery help us strengthen our operations while creating and sustaining jobs and continuing to drive economic growth throughout Central New York State. We're proud to continue investing in American manufacturing and in the hardworking New Yorkers who help to produce America's most iconic beer and spirits brands every day."
This new $13 million investment in Anheuser-Busch's Baldwinsville Brewery will help increase production of Michelob ULTRA, the #1 top-selling and fastest-growing beer in America,3 as well as upgrade can and bottle lines. It will also add new production capabilities for Cutwater to help meet rapidly growing demand for the #1 spirits-based cocktail brand in the U.S.4
As part of this investment, Anheuser-Busch will also open a new technical skills training center inside the Baldwinsville Brewery, one of 15 that the company is opening nationwide, to upskill employees across mechanical, electrical, digital, and operational areas. This new center builds on the Baldwinsville Brewery's already strong technical skills training programs. This year, the Brewery is celebrating the first two graduates from its Maintenance Technician Development Program—developed in partnership with New York State, The Manufacturers Association of Central New York (MACNY) and the Teamsters—who went through hands-on training to advance from packaging operators to electricians.
Governor Kathy Hochul said: "New York has a proud manufacturing heritage that continues to fuel economic opportunity across the state. Anheuser-Busch's latest investment in its Baldwinsville Brewery, alongside the apprenticeship opportunities developed in partnership with Anheuser-Busch, New York State, MACNY, and the Teamsters, helps to create new pathways to long-term careers right here in New York and a bright future for the Central New York region."
Representative John W. Mannion (NY-22) said: "Anheuser-Busch's $13 million investment in its Baldwinsville Brewery will expand local production while creating new opportunities for workers to build their skills and advance into good-paying manufacturing careers. The new technical training center, combined with the company's successful partnership with New York State, MACNY, and the Teamsters, is exactly the kind of workforce development I've consistently championed because it's a proven model that benefits workers, businesses, and our entire regional economy. I commend Anheuser-Busch for continuing to invest in its Baldwinsville workforce and the future of American manufacturing."
Anheuser-Busch has proudly called New York State home for over 40 years, investing more than $100 million in its Baldwinsville Brewery since 2021, and remains committed to being a key economic driver in New York State. The Baldwinsville Brewery serves as a hub of innovation, and the hundreds of New Yorkers employed at this facility produce more than 50 Anheuser-Busch brands.
ABOUT ANHEUSER-BUSCH
At Anheuser-Busch, our purpose is to create a future with more cheers. For more than 165 years as a leading American manufacturer, we have delivered a legacy of brewing great-tasting, high-quality beers that have satisfied beer drinkers for generations. As the nation's top brewer, one of the fastest growing spirits companies, and an insurgent force in energy drinks, we drive economic prosperity nationwide through investments in our people, facilities, and communities. We are the only alcohol company that invests in the U.S. at this scale.
We make the nation's most iconic beers, ready-to-drink spirits and beyond beer brands, including Michelob ULTRA – America's #1 top-selling and fastest-growing beer – Busch Light, Budweiser, Bud Light, Stella Artois, Cutwater Spirits, NÜTRL Vodka Seltzer, BeatBox, industry-leading craft beers and non-alcohol beers like Michelob ULTRA Zero. We are guided by our commitment to the communities we call home and to the 65,000 hardworking Americans who bring our products to life. That's who we are. For more information, visit www.anheuser-busch.com or follow Anheuser-Busch on LinkedIn, X, Facebook, and Instagram.
AB InBev ve 2. čtvrtletí zvýšil objem piva o 1,1 % a celkové objemy o 0,9 %. Tržby vzrostly o 5,6 %, ale Čína dál tlačí na výsledky, když její tržby klesly o 8,8 %.
Key Takeaways BUD's Q2 beer volumes rose 1.1%, while total volumes increased 0.9% amid global market share gains.Michelob Ultra expanded across the Americas, with 40% of Q2 volume growth coming from outside the U.S.BUD's non-alcoholic beer revenues climbed 27%, led by Corona Cero and Michelob Ultra Zero.
Anheuser-Busch InBev SA/NV (BUD - Free Report) , popularly known as AB InBev, delivered encouraging volume performance in the second quarter of 2026, signaling improving momentum across its global business. The company benefited from market share gains, continued investment in its megabrands and growth across emerging markets. Management believes its more diversified portfolio, spanning core and premium beer, non-alcoholic offerings and Beyond Beer, has positioned BUD to capture demand across more consumer occasions.
Beer volumes increased 1.1% year over year in the second quarter, while total volumes rose 0.9%. Revenues advanced 5.6%, supported by 4.2% growth in revenue per hectoliter, reflecting positive mix and revenue management initiatives. BUD also reported market share gains globally, with record second-quarter volumes in markets including Mexico, Colombia and Ecuador.
Several growth initiatives could help sustain the volume recovery. Michelob Ultra is expanding across the Americas, with 40% of the brand's second-quarter volume growth coming from outside the United States. Meanwhile, non-alcoholic beer revenues climbed 27%, led by Corona Cero and Michelob Ultra Zero. BUD is also expanding its Beyond Beer portfolio, giving the company additional avenues to attract consumers and increase participation across growing beverage segments.
Still, the recovery remains uneven across markets. China continues to be a notable pressure point, with revenues declining 8.8% amid adverse weather, a constrained consumer environment and weakness in the on-premise channel. BUD is investing in its brands, innovation and off-trade execution to improve performance there. With stronger volume trends elsewhere and management shifting its focus from resetting the business toward accelerating its growth levers, sustained execution across key markets will be crucial to determining whether the recent volume improvement develops into a broader recovery.
BUD’s Price Performance, Valuation & EstimatesAB InBev’s shares have lost 0.2% in the past six months compared with the industry’s 3.1% decline.
Image Source: Zacks Investment Research
From a valuation standpoint, BUD trades at a forward price-to-earnings ratio of 17.07X compared with the industry’s average of 15.13X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for BUD’s 2026 and 2027 earnings per share (EPS) indicates year-over-year growth of 17.2% and 12.3%, respectively. The company’s EPS estimates for 2026 and 2027 have moved upward in the past 30 days.
Image Source: Zacks Investment Research
AB InBev currently carries a Zacks Rank #3 (Hold).
Stocks to ConsiderDarling Ingredients Inc. (DAR - Free Report) , which is a global developer and producer of sustainable natural ingredients, currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Darling Ingredients' current financial-year sales indicates growth of 12.7% from the prior-year level. DAR delivered a trailing four-quarter earnings surprise of 38.9%, on average.
The Coca-Cola Company (KO - Free Report) is a leading beverage company with a portfolio of 32 billion-dollar brands spanning sparkling beverages, water, sports drinks, dairy and value-added beverages. KO currently carries a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for Coca-Cola’s current fiscal-year sales and earnings implies growth of 4.03% and 9.7%, respectively, from the year-ago reported figures. Coca-Cola delivered a trailing four-quarter earnings surprise of 4.6%, on average.
Primo Brands Corporation (PRMB - Free Report) is a leading North American branded beverage company focused on healthy hydration. It currently has a Zacks Rank #2.
The Zacks Consensus Estimate for Primo Brands’ current fiscal-year sales indicates growth of 2.5% from the prior year’s reported levels. PRMB delivered a trailing four-quarter earnings surprise of 7.7%, on average.
Anheuser-Busch InBev SA/NV (BUD) Q2 2026 Earnings Call July 30, 2026 9:00 AM EDT
Company Participants
Michel Doukeris - Chief Executive Officer
Fernando Tennenbaum - Chief Financial Officer
Conference Call Participants
Edward Mundy - Jefferies LLC, Research Division
Mitchell Collett - Deutsche Bank AG, Research Division
Robert Ottenstein - Evercore ISI Institutional Equities, Research Division
Jean-Olivier Nicolai - Goldman Sachs Group, Inc., Research Division
Christopher Carey - Wells Fargo Securities, LLC, Research Division
Sanjeet Aujla - UBS Investment Bank, Research Division
Chris Pitcher - Rothschild & Co Redburn, Research Division
Laurence Whyatt - Barclays Bank PLC, Research Division
Robert Vos
Trevor Stirling - Bernstein Institutional Services LLC, Research Division
Presentation
Operator
Welcome to AB InBev's Second Quarter 2026 Earnings Conference Call and Webcast. Hosting the call today from AB InBev are Mr. Michel Doukeris, Chief Executive Officer; and Mr. Fernando Tennenbaum, Chief Financial Officer. To access the slides accompanying today's call, please visit AB InBev's website at www.ab-inbev.com and click on the Investors tab and the Reports and Results Center page. Today's webcast will be available for on-demand playback later today. [Operator Instructions]
Some of the information provided during the conference call may contain statements of future expectations and other forward-looking statements. These expectations are based on management's current views and assumptions and involve known and unknown risks and uncertainties. It is possible that AB InBev's actual results and financial condition may differ possibly materially, from the anticipated results and financial condition indicated in these forward-looking statements.
For a discussion of some of the risks and important factors that could affect AB InBev's future results, see risk factors in the company's latest annual report on Form 20-F filed with the Securities and Exchange Commission on March 3, 2026. AB InBev assumes no obligation to update or revise any forward-looking information provided during the conference call and shall not be liable for
Anheuser-Busch Inbev (BUD - Free Report) reported $16.66 billion in revenue for the quarter ended June 2026, representing a year-over-year increase of 11%. EPS of $1.21 for the same period compares to $0.98 a year ago.
The reported revenue represents a surprise of +2.26% over the Zacks Consensus Estimate of $16.29 billion. With the consensus EPS estimate being $1.09, the EPS surprise was +11.01%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Anheuser-Busch Inbev performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Volume in Hectoliters - Middle America: 38,822.00 KhL versus the three-analyst average estimate of 39,102.03 KhL.Volume in Hectoliters - South America: 34,199.00 KhL compared to the 36,814.15 KhL average estimate based on three analysts.Volume in Hectoliters - EMEA: 24,172.00 KhL versus 23,999.03 KhL estimated by three analysts on average.AB InBev Worldwide - Total Volume: 143,347.00 KhL versus 144,023.50 KhL estimated by three analysts on average.Volume in Hectoliters - Global Export and Holding Companies: 62.00 KhL compared to the 74.17 KhL average estimate based on three analysts.Volume in Hectoliters - North America: 22,376.00 KhL versus 21,750.32 KhL estimated by three analysts on average.Revenue- North America: $3.84 billion versus the three-analyst average estimate of $3.9 billion. The reported number represents a year-over-year change of 0%.Revenue- Middle Americas: $4.34 billion versus $4.88 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a 0% change.Revenue- Global Export & Holding Companies: $144 million compared to the $159.38 million average estimate based on three analysts. The reported number represents a change of 0% year over year.Revenue- EMEA: $2.49 billion compared to the $2.64 billion average estimate based on three analysts. The reported number represents a change of 0% year over year.Revenue- Asia Pacific: $1.66 billion compared to the $1.6 billion average estimate based on three analysts. The reported number represents a change of 0% year over year.Revenue- South America: $2.53 billion compared to the $3.12 billion average estimate based on three analysts. The reported number represents a change of 0% year over year.View all Key Company Metrics for Anheuser-Busch Inbev here>>>
Shares of Anheuser-Busch Inbev have returned +5.8% over the past month versus the Zacks S&P 500 composite's -1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
AB InBev má ve 2. čtvrtletí vykázat tržby 16,3 miliardy USD a EPS 1,09 USD, obojí meziročně vyšší. Růst má podpořit premiumizace a cenotvorba, zatímco Čína a vyšší náklady mohou brzdit marže.
Key Takeaways AB InBev is expected to post Q2 revenues of $16.3B and EPS of $1.09, both rising y/y.Premium brands, pricing and product mix are expected to have supported growth despite mixed regional volumes.China softness, currency swings, and elevated marketing and input costs may limit margin expansion. Anheuser-Busch InBev SA/NV (BUD - Free Report) , also known as AB InBev, is slated to release second-quarter 2026 earnings on July 30, before the opening bell. The leading alcohol beverage company is likely to register year-over-year growth in its top and bottom lines when it reports quarterly numbers.
The Zacks Consensus Estimate for AB InBev’s quarterly revenues is pegged at $16.3 billion, indicating 8.6% growth from the year-ago quarter’s reported number. For second-quarter earnings, the consensus mark is pegged at $1.09 per share, suggesting 11.2% growth from the prior-year reported figure. The consensus mark has been unchanged in the past 30 days.
In the last reported quarter, the company’s earnings per share beat the Zacks Consensus Estimate by 7.8%. It has a trailing four-quarter average earnings surprise of 4.6%.
Factors Likely to Impact BUD’s Q2 ResultsAB InBev’s second-quarter 2026 results are expected to have benefited from disciplined revenue management, continued premiumization and strong brand momentum. The company’s focus on increasing revenue per hectoliter through pricing actions and a favorable product mix, supported by its portfolio of mega brands, is likely to have driven top-line growth. Sustained investments in marketing and brand building, coupled with major global events, are also expected to have strengthened consumer engagement and supported sales in the quarter.
The company’s premium and super-premium portfolio is anticipated to have remained a key growth catalyst. Strong demand for brands such as Corona and Michelob Ultra, along with continued expansion in higher-margin categories, is likely to have supported an improved price mix. The ongoing shift toward premium offerings, complemented by innovation-led product launches, may have helped sustain revenue growth despite mixed volume trends across certain regions.
AB InBev’s expanding presence in the Beyond Beer and non-alcoholic beverage categories is also likely to have contributed to second-quarter performance. These segments continue to gain traction amid evolving consumer preferences and increased demand for differentiated beverage options. Management’s efforts to scale these faster-growing categories are expected to have generated incremental revenues while strengthening the company’s long-term growth prospects.
On the cost front, productivity initiatives and an efficient operating model are expected to have supported profitability. Continued cost-saving measures and operational efficiencies may have partly offset pressures from foreign exchange volatility and elevated input costs. However, increased sales and marketing spending, particularly on global events and brand activations, could have constrained margin expansion during the quarter.
Meanwhile, persistent macroeconomic pressures and region-specific challenges are likely to have weighed on the company’s performance. Volume softness in select markets remains concerning, particularly in China, where inventory adjustments and channel realignment may have pressured revenues. Currency fluctuations and shifting consumer demand patterns could also have affected near-term performance, especially in markets facing uncertain economic conditions.
Q2 Earnings Whispers for BUD StockOur proven model conclusively predicts an earnings beat for AB InBev this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks before they are reported with our Earnings ESP Filter.
AB InBev presently has an Earnings ESP of +1.60% and a Zacks Rank #3.
BUD’s Valuation Picture & Stock PerformanceThe stock has a forward 12-month price-to-earnings of 17.53X compared with the five-year high of 22.58X and the Beverages - Alcohol industry’s average of 15.53X.
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The recent market movements show that BUD shares have risen 25.6% in the year-to-date period compared with the industry's 15.9% return. The stock has also underperformed the Zacks Consumer Staples sector and the S&P 500’s growth of 9.4% and 9.2%, respectively.
BUD Stock's Price Performance
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Other Stocks With the Favorable CombinationHere are some other companies that, according to our model, also have the right combination of elements to beat on earnings this reporting cycle.
Fomento Economico Mexicano (FMX - Free Report) currently has an Earnings ESP of +37.42% and sports a Zacks Rank #1. The company is likely to register growth in the top and bottom lines when it reports second-quarter 2026 numbers. The consensus mark for revenues is pegged at $12.9 billion, which indicates a rise of 19.3% from the figure reported in the year-ago quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for FMX’s quarterly earnings per share of 82 cents implies a surge of 95.2% from the year-ago quarter’s actual. The consensus mark has moved down 10.9% in the past 30 days. FMX has a trailing four-quarter negative earnings surprise of 17%, on average.
Monster Beverage Corporation (MNST - Free Report) currently has an Earnings ESP of +2.61% and a Zacks Rank #3. The company is likely to register growth in the top and bottom lines when it reports second-quarter 2026 numbers. The consensus mark for revenues is pegged at $2.4 billion, which indicates growth of 14.5% from the figure reported in the year-ago quarter.
The Zacks Consensus Estimate for Monster Beverage’s quarterly earnings per share of 59 cents implies a rise of 13.5% from the year-ago quarter’s actual. The consensus mark has been unchanged in the past 30 days. MNST has a trailing four-quarter earnings surprise of 9.6%, on average.
Mondelez International (MDLZ - Free Report) currently has an Earnings ESP of +0.97% and a Zacks Rank #3. The company is likely to register an increase in the top line when it reports second-quarter 2026 numbers. The Zacks Consensus Estimate for MDLZ’s quarterly EPS is pegged at 67 cents, down 8.2% from the year-ago period. The consensus mark has been unchanged in the past 30 days.
The consensus estimate for Mondelez International’s quarterly revenues is pegged at $9.2 billion, which implies an increase of 2.5% from the prior-year quarter. MDLZ has a trailing four-quarter earnings surprise of 5.4%, on average.
AB InBev v 1. čtvrtletí zvýšil tržby z prémiového piva o 11 %, táhly je Corona, Stella Artois a Michelob Ultra. Digitální B2B platformy zároveň tvořily asi 72 % tržeb.
Key Takeaways BUD's digital platforms, including BEES and Ze Delivery, are expanding customer reach and engagement.BUD's B2B digital platforms contributed about 72% of revenues in Q1 2026, supporting growth.BUD's premium beer portfolio posted 11% revenue rise in Q1, led by Corona, Stella Artois and Michelob Ultra. In a fast-evolving beverage environment, Anheuser-Busch InBev SA/NV (BUD - Free Report) , also known as AB InBev, emerges as a distinctively positioned contender, strengthening its foothold in the global alcoholic beverage market. As a global brewing titan, AB InBev continues to dominate the industry through its expansive sourcing and distribution network, strategic focus on premiumization, accelerating digital transformation and consistent investment in brand equity.
AB InBev continues to enhance its digital capabilities to deepen customer engagement, with a strong emphasis on digitizing and monetizing its ecosystem. The company is expanding its tech-driven platforms, particularly its B2B and e-commerce channels like BEES and Zé Delivery. BEES delivered a strong performance, generating $14.6 billion in gross merchandise value (GMV), up 15% year over year. Digital DTC megabrands, Zé Delivery, TaDa Delivery and PerfectDraft, served 12 million active consumers, generating $139 million in revenues in first-quarter 2026, with third-party sales through DTC marketplace reaching $41 million of GMV.
The company’s digital transformation initiatives have been on track, with B2B digital platforms contributing about 72% to its revenues in first-quarter 2026. In DTC, BUD’s digital platforms enable a one-to-one connection with consumers, hence developing new occasions. Digital momentum is likely to continue and bolster the company’s overall revenues.
Premiumization remains a key lever for AB InBev as consumers trade up within beer and it concentrates investment behind its megabrands. In first-quarter 2026, the above core beer portfolio delivered an 11% revenue increase, driven by Corona, Stella Artois and Michelob Ultra. Corona also increased volumes by double digits in 32 markets in the reported quarter, supporting a sustained premium mix contribution. The company has highlighted that its disciplined revenue management and strong portfolio of higher-priced brands support revenue per hl and margin resiliency over time. As AB InBev continues to activate global platforms such as major sports moments and scale premium brands across more markets, it has an opportunity to protect pricing power through the cycle.
BUD’s Price Performance, Valuation and EstimatesAB InBev shares have gained 27.5% in the past six months compared with the industry’s 14.9% growth.
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From a valuation standpoint, BUD trades at a forward price-to-earnings ratio of 17.99X compared with the industry’s average of 15.38X.
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The Zacks Consensus Estimate for BUD’s 2026 and 2027 earnings per share (EPS) indicates year-over-year growth of 16.1% and 11.5%, respectively. The company’s EPS estimates for 2026 have moved upward in the past seven days while that of 2027 have moved downward.
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AB InBev currently carries a Zacks Rank #3 (Hold).
Stocks to Consider in the Consumer Staples SpaceThe Chefs' Warehouse, Inc. (CHEF - Free Report) , which is a distributor of specialty food products in the United States, currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Chefs' Warehouse current financial-year sales indicates growth of 8.3% from the prior-year level. CHEF delivered a trailing four-quarter earnings surprise of 28.9%, on average.
Nomad Foods Limited (NOMD - Free Report) , which manufactures and distributes frozen foods, currently carries a Zacks Rank #2 (Buy).
The consensus estimate for Nomad Foods’ current financial-year sales is expected to rise 0.5% from the year-ago reported figure. NOMD delivered a trailing four-quarter earnings surprise of 8.6%, on average.
Medifast, Inc. (MED - Free Report) , which is a leading manufacturer and distributor of clinically-proven healthy living products and programs, currently carries a Zacks Rank of 2. MED delivered an average earnings surprise of 65.5% in the last reported quarter.
The Zacks Consensus Estimate for Medifast’s current financial-year sales indicates a decline of 26% from the year-ago number.
