Belgium · Delayed Price · Currency is EUR Anheuser-Busch InBev Earnings Call Transcripts
Fiscal Year 2026
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Q1 saw 5.8% revenue growth and 20.8% EPS increase, with record volumes in key markets and strong premiumization. Digital platforms and Beyond Beer segments accelerated, while guidance remains for 4%-8% EBITDA growth in 2026.
Fiscal Year 2025
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Delivered EPS and EBITDA growth with margin expansion and strong free cash flow, driven by premiumization, innovation, and digital platforms. Entering 2026 with improved momentum, robust capital allocation, and a positive outlook for further growth.
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Top and bottom-line growth achieved despite headwinds, with margin expansion and strong EPS. Strategic investments in premium, non-alcohol, and beyond beer segments drove market share gains, while a $6B buyback and interim dividend reflect capital allocation flexibility.
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EBITDA grew 6.5% and margins expanded, driven by premium brands and strategic revenue management. Despite a 1.9% volume decline, revenue rose 3% and EPS increased 8.7% in USD. Strong cash flow and deleveraging improved financial flexibility.
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EBITDA grew 7.9% with margin expansion, and underlying EPS rose 7.1% in USD and 20.2% in constant currency. Premiumization, digital growth, and strong performance in key markets offset volume declines from calendar effects. Outlook for 4%-8% EBITDA growth is maintained.
Fiscal Year 2024
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All-time high revenues and strong EBITDA growth were achieved, with margin expansion and record free cash flow. Deleveraging milestones increased capital allocation flexibility, while premiumization and digital platforms drove performance. 2025 guidance targets 4%-8% organic EBITDA growth.
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Revenue grew in over 60% of markets, with 7.1% EBITDA growth and margin expansion. A $2B share buyback was announced, and full-year EBITDA guidance was raised to 6%-8%. Premiumization, digital platforms, and strong Mega Brands drove performance.
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Revenue grew in 65% of markets, with EBITDA up 10.2% and underlying EPS up 25% year-over-year. Margin expansion occurred in all regions, while digital and premiumization strategies drove growth. FX volatility and macro challenges in China and Argentina remain key risks.