Anheuser Busch Inbev SA (NYSE:BUD) reported revenue in the third quarter of $14.3bn, reflecting 7.9% organic growth. Underlying cash profits grew 3% to $5.2bn.
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As a result of “continued momentum” cash profit guidance was raised to between 10% and 12%.
The board has chosen not to issue an interim dividend.
The shares rose 4.7% following the announcement.
Anheuser Busch Inbev Raises Full Year Cash Profit Guidance
Matt Britzman, Equity Analyst at Hargreaves Lansdown:
“Unlike rival Heineken, Anheuser Busch Inbev posted growing volumes as momentum continues to drive profits up above pre-pandemic levels. That led the group to raise full year cash profit guidance.
Beer sales continue to shift towards the more premium offerings. With a basket of big-name brands from Budweiser to Stella Artois, Anheuser Busch Inbev is already benefiting. The premium portfolio continues to lead growth, accounting for over 30% of sales. The group looks to be finding a good balance between increasing volumes and raising prices, which is helping it navigate increased supply chain costs.
That said, debt in the business is eye wateringly high and it’s hard to get too excited until that’s been rectified.”
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