Belgium · Delayed Price · Currency is EUR Anheuser-Busch InBev Earnings Call Transcripts
Fiscal Year 2026
-
The event outlined a shift to EBIT as the key performance metric, targeting 5%-9% medium-term growth, supported by disciplined capital allocation, margin expansion, and strong free cash flow. Continued investment in brands, digital platforms, and Beyond Beer, along with a focus on organic growth and portfolio optimization, positions the business for superior shareholder value creation.
-
Ownership and culture are central, with simplified principles and a pivot to organic growth. Innovation in non-alcoholic and Beyond Beer, disciplined CapEx, and mega marketing platforms drive results. U.S. sales leverage tech, wholesaler partnerships, and local activations for market share gains.
-
The event detailed a successful transformation to organic, compounding growth, with EBITDA and net revenue rising steadily since 2021. Digital and AI capabilities, mega brand focus, and portfolio simplification have driven global market share gains and innovation. The U.S. business is rebalanced for growth, with leading brands in beer and spirits, and BEES and D2C platforms are scaling rapidly.
-
Q2 2026 saw strong revenue and EPS growth, with market share gains in key regions and robust free cash flow. Digital platforms and mega brand activations, especially around the FIFA World Cup, drove performance. China lagged due to weather, but overall outlook remains positive.
-
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
-
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.
-
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.
-
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.
-
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
-
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.
-
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.
-
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.