AnheuserBusch InBev Reports Third Quarter 2024 Financial Results

BUD.N

2024-10-312mins

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Anheuser-Busch InBev Reports Third Quarter 2024 Financial Results

Anheuser-Busch InBev (NYSE: BUD) has reported its financial results for the third quarter of 2024, showcasing a significant performance in several key metrics.

Key Financial Metrics

Metric	3Q24	YoY Change	Consensus Estimates
Underlying Earnings per Share (EPS)	$0.98	14%	$0.89

The company's performance indicated strong gains in Underlying EPS, which rose by 14%, surpassing the consensus estimate of $0.89. This growth was driven by increases in market share in 60% of the markets, pricing strategies, and premiumization efforts.

Revenue Performance by Segment

Segment	Revenue Growth
United States	1.8%
Mexico	Flattish
Colombia	High-single digits
Brazil	5.2%
Europe	Flattish
South Africa	Low-teens
China	-16.1%

The revenue performance varied significantly across different regions. Brazil and South Africa posted strong growth, whereas China experienced a decline in revenue due to a soft industry environment. The diversified global footprint has been pivotal in mitigating challenges in specific markets.

Key Developments and Operational Highlights

Announced a $2 billion share buyback program to be completed within the next 12 months.
BEES digital platform captured $12.1 billion in gross merchandise value (GMV), a 14% increase versus 3Q23.
BEES Marketplace's tremendous growth with GMV of $630 million, rising 51% compared to 3Q23.

Management Comments

Michel Doukeris, CEO of AB InBev, highlighted the company's strong execution of its strategy which led to a 7.1% EBITDA increase. He remains confident in the ability to deliver on the raised FY24 EBITDA growth outlook of 6-8%, leveraging consumer demand for megabrands.

Dividend and Share Repurchase Program

The Board has approved a $2 billion share repurchase plan, part of its strategic capital allocation to enhance shareholder value.

Forward Guidance

For 2024, the company anticipates EBITDA growth between 6-8% amidst expected inflationary pressures and macroeconomic factors.

Stock Price Movement

Post-earnings release, Anheuser-Busch InBev's stock observed a decline of approximately -1.79%, reflective of mixed investor sentiment.

This quarter encapsulates AB InBev's resilience and adaptability through its global segmentation approach, continuous strategic investments, and digitalization initiatives.

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