AB InBev 2Q Profit Fell Despite Revenue Beating Views; Backs 2022 Guidance
28 Juli 2022 - 7:58AM
Dow Jones News
By Michael Susin
Anheuser-Busch InBev SA on Thursday reported a fall in net
profit for the second quarter of 2022, despite an
better-than-expected increase in revenue and volumes, and backed
its full-year guidance.
The brewer--which houses the Stella Artois and Budweiser brands
among its portfolio--made a net profit of $1.60 billion in the
second quarter compared with $1.86 billion for the same period a
year earlier.
Organic revenue growth for the quarter was 11%, while volumes
rose 3.4% organically. This compares with expectations for
increases of 9.5% and 1.9%, respectively, according to a
company-provided consensus.
Revenue was driven by management initiatives, the expansion of
the beer category across key markets and continuing
premiumization--the process of making products appealing to
consumers through higher quality and exclusivity--it added.
Normalized earnings before interest, taxes, depreciation and
amortization for the quarter increased 7.2% on an organic basis
despite commodity and supply-chain cost headwinds, beating the
company-provided expectations of a 5.6% rise.
AB InBev backed its 2022 guidance of organic growth in earnings
before interest, taxes, depreciation, and amortization to be in the
range of 4% to 8%, and revenue to grow ahead of Ebitda, driven by
combination of volume and price.
Write to Michael Susin at michael.susin@wsj.com
(END) Dow Jones Newswires
July 28, 2022 01:43 ET (05:43 GMT)
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