AB InBev (BUD) Q4 Earnings Beat Estimates, Revenues Miss

About this update from Fomento Economico Mexicano Sab De Cv Units Cons. Of 5 Shsb

Anheuser-Busch InBev SA/NV BUD, alias AB InBev, reported dismal results in fourth-quarter 2023. The company’s earnings beat the Zacks Consensus Estimate, while revenues missed. Sales and earnings declined on a year-over-year basis.Top and bottom-line growth reflected a positive business momentum, owing to relentless execution, investment in its brands and accelerated digital transformation. Results also benefited from continued consumer demand for its brand portfolio. Backed by the ongoing business momentum, the company outlined its view for 2024.Shares of the Zacks Rank #3 (Hold) company have gained 3.6% in the past year against the industry’s decline of 1.4%. Q4 HighlightsAB InBev reported an underlying EPS (normalized EPS, excluding mark-to-market gains and losses related to the hedging of share-based payment programs, and the impacts of hyperinflation) of 82 cents in fourth-quarter 2023, down 4.7% from the 86 cents earned in the year-ago quarter. The bottom line beat the Zacks Consensus Estimate of 76 cents.Revenues of $14.5 billion moved down 1.3% from the year-ago quarter. However, revenues missed the Zacks Consensus Estimate of $15,343 million. The company registered organic revenue growth of 6.2%, primarily driven by robust revenue per hectoliter (hl) growth and improvement of more than 85% in its markets. Revenues benefited from pricing actions, continued premiumization and other revenue-management initiatives. Accelerated digital transformation also contributed to top-line growth in the quarter.Revenues reflected strong performances of its global brands — Budweiser, Corona, Stella Artois, Corona and Michelob Ultra — which collectively advanced 24.6% year over year outside their home markets in the fourth quarter.Anheuser-Busch InBev SA/NV Price, Consensus and EPS SurpriseAnheuser-Busch InBev SA/NV price-consensus-eps-surprise-chart | Anheuser-Busch InBev SA/NV QuoteRevenue per hl moved up 9.3% year over year on an organic basis, backed by revenue-management initiatives, the expansion of the beer category across the company’s key markets and premiumization efforts. However, the company’s total organic volume declined 2.6%. The total organic volume included a 3.6% dip in the own-beer volume, offset by 3% growth in the non-beer volume.AB InBev has been keen on making the most of investments in its portfolio over the years, as well as rapidly growin...

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