Anheuser-Busch InBev SA/NV (NYSE:BUD) Announces Earnings Results

Anheuser-Busch InBev SA/NV (NYSE:BUD) issued its earnings results on Thursday. The consumer goods maker reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.07, Zacks reports. The business had revenue of $16.51 billion during the quarter, compared to the consensus estimate of $16.27 billion. Anheuser-Busch InBev SA/NV had a return on equity of 16.42% and a net margin of 14.90%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.99 earnings per share.

Here are the key takeaways from Anheuser-Busch InBev SA/NV’s conference call:

• Revenue rose 4.9% and underlying EPS increased 22% to $1.21 in Q3, while volumes grew for a third consecutive quarter and EBITDA increased 3.9%. Management maintained its 2026 outlook, citing disciplined revenue and cost management despite commodity pressures and higher brand investment.
• Growth was broad across key markets, with particularly strong performances in Mexico, Colombia, Brazil, South Africa, and the U.S. The company reported share gains in U.S. beer and total alcohol, while its Beyond Beer portfolio grew revenue in the low teens.
• Growth platforms continued to outperform: mega-brand revenue increased 7.7%, non-alcohol beer revenue rose 35%, and third-party products on the BEES marketplace grew 45% to $1.4 billion in GMV. Management said these areas are attracting new consumers and occasions and remain important long-term growth engines.
• China remained a significant weakness, with revenue and volumes down 16.8% amid an industry decline, abnormal weather, on-premise softness, and inventory reductions. Management expects inventories to normalize by year-end and said market-share trends are improving, but acknowledged that performance remains below potential.
• Strong cash generation and balance-sheet flexibility supported an interim dividend increase to €0.40 per share from €0.15 last year, alongside continued execution of the $6 billion share-buyback program, of which $2.6 billion has been completed.

Anheuser-Busch InBev SA/NV Price Performance

Anheuser-Busch InBev SA/NV stock traded up $0.78 during midday trading on Friday, hitting $80.30. 2,007,926 shares of the company’s stock were exchanged, compared to its average volume of 2,127,951. Anheuser-Busch InBev SA/NV has a 52-week low of $59.90 and a 52-week high of $86.60. The stock has a 50-day moving average price of $78.83 and a two-hundred day moving average price of $77.68. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.50 and a current ratio of 0.66. The company has a market cap of $162.14 billion, a P/E ratio of 17.01, a PEG ratio of 1.17 and a beta of 0.57.

Key Headlines Impacting Anheuser-Busch InBev SA/NV

Here are the key news stories impacting Anheuser-Busch InBev SA/NV this week:

• Positive Sentiment: Q3 earnings and revenue exceeded expectations. Underlying EPS rose 22% year over year to $1.21, beating the $1.14 consensus estimate, while revenue increased 9.1% to $16.51 billion versus expectations of $16.27 billion. AB InBev Q3 Earnings Beat Estimates on Revenue Growth and Premiumization
• Positive Sentiment: Premiumization and brand strength are driving growth. Higher revenue per hectoliter, resilient megabrands and digital platforms helped offset pressure in some markets. Non-beer volumes rose 4%, contributing to a 0.4% increase in total volumes. Budweiser Brewer AB InBev’s Alternative Drinks Help Steady Slide in Beer Volumes
• Positive Sentiment: Shareholder returns received a boost. The board approved an interim dividend of €0.40 per share, payable in November, reinforcing the investment case for income-oriented investors. AB InBev Interim Dividend Approval
• Neutral Sentiment: Analyst sentiment remains favorable. Deutsche Bank maintained its Buy rating, while Zacks ranked BUD among its top value stocks. Erste Group also issued its FY2026 earnings estimate. Deutsche Bank Maintains Buy Rating
• Negative Sentiment: Regional weakness and margin pressure remain risks. China and other markets continue to weigh on performance, while higher costs and increased marketing investment are squeezing margins. Lower interest expense and share buybacks also contributed to EPS growth, potentially limiting the underlying operating leverage. AB InBev EPS Growth as China Slides

Analyst Upgrades and Downgrades

BUD has been the topic of several recent research reports. Morgan Stanley cut their price target on Anheuser-Busch InBev SA/NV from $86.50 to $84.50 and set an “overweight” rating on the stock in a report on Thursday, July 2nd. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Anheuser-Busch InBev SA/NV in a research note on Thursday, September 24th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Anheuser-Busch InBev SA/NV in a research report on Thursday, September 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Anheuser-Busch InBev SA/NV in a report on Thursday, October 15th. Finally, Bank of America restated a “buy” rating on shares of Anheuser-Busch InBev SA/NV in a research note on Thursday, September 24th. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $87.83.

Anheuser-Busch InBev SA/NV Company Profile

Anheuser-Busch InBev SA/NV is a global beverage company headquartered in Leuven, Belgium, and one of the world’s largest brewers. The company produces, markets and distributes beer and other alcoholic and nonalcoholic beverages through a portfolio of international, regional and local brands.

Its brand portfolio includes Budweiser, Bud Light, Corona, Stella Artois, Michelob ULTRA, Beck’s, Hoegaarden and Leffe. AB InBev also offers a range of zero-alcohol and other beverage products, while its operations include brewing, packaging, sales and distribution.

The company was formed through the combination of Belgium’s Interbrew and Brazil’s AmBev in 2004.