AB InBev reports a 4% increase in revenue. This goes against analysts’ expectations for a 4% loss.
The world’s biggest brewer said Thursday it experienced a surge in sales in the third quarter, but profits fell.
In contrast to the cheaper costs of barrels delivered to the pub, the costs of packaging, cans and bottles have boosted the cost of brewers.
After a 17% decline in the last quarter, beer and soft drink volumes rose 1.9% in the third quarter. The group’s global brands Budweiser, Stella Artois and Corona combined revenues increased by 6.8% worldwide, and 8.1% outside their respective home markets.
“Our third quarter results reflect the fundamental strengths of our world-leading brewers and the resilience of the global beer category. We have provided strong, balanced topline performance by quickly adapting to meet the evolving needs of our customers and consumers. In a continuous, uncertain environment, we continue to focus on being part of our solution by prioritizing the health and well-being of our people, our communities and our customers.”
AB InBev has eliminated its provisional dividends amid the pandemic due to “uncertainty and volatility.”
