By Ian Walker

Anheuser-Busch InBev backed its full-year guidance after third-quarter earnings missed market forecasts as volumes fell, with drops in North American offsetting rises in other areas.

The world's largest brewer--which houses Stella Artois and Budweiser among its portfolio--said Tuesday that overall volumes fell 3.4% on an organic basis, missing expectations of a 2.7% fall. Within this, North America volumes fell 17.1% compared with a fall of 14.5% in the second quarter

Sales in the region have been falling since April when Dylan Mulvaney, a transgender social-media star, made an Instagram post about a personalized can of Bud Light that the brewer had sent her as a gift. The post sparked a boycott that caused sales of Bud Light, and other brands, to fall.

Write to Ian Walker at ian.walker@wsj.com

(END) Dow Jones Newswires

October 31, 2023 02:27 ET (06:27 GMT)

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