AnheuserBusch InBev Reports Third Quarter 2024 Financial Results
Intellectia.AI
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.
For more in-depth analysis and insights, stay tuned with our platform to stay ahead of the market.
Share
Want more financial insights delivered directly to your inbox?
Subscribe now and receive handpicked financial news, insights, and trending topics.