AB InBev 2Q Net Profit Surged as Sales Recovered
July 29 2021 - 1:36AM
Dow Jones News
By Adria Calatayud
Anheuser-Busch InBev SA said Thursday that net profit for the
second quarter rose sharply as sales exceeded pre-pandemic levels,
but the Budweiser brewer said it continues to absorb cost headwinds
from tight supply chains in the U.S.
The world's largest brewer, which also houses the Stella Artois
and Michelob Ultra brands in its portfolio, said quarterly net
profit was $1.86 billion compared with $351 million for the
year-earlier period, when its performance was hurt by an impairment
charge against its African business.
Belgium-based AB InBev said revenue for the quarter increased to
$13.54 billion from $10.29 billion a year before. Organic revenue
growth for the quarter was 28%, while organic volumes rose 21%.
This compared with expectations for increases of 24% and 19%,
respectively, according to a company-provided consensus.
Normalized earnings before interest, taxes, depreciation and
amortization for the quarter increased 31% on an organic basis,
missing company-provided expectations for a 35% rise.
The company reiterated its guidance for normalized Ebitda growth
of between 8% and 12% for 2021 as a whole, with revenue growth
ahead of that range.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
July 29, 2021 01:34 ET (05:34 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Anheuser Busch Inbev SA NV (NYSE:BUD)
Historical Stock Chart
From Aug 2024 to Sep 2024
Anheuser Busch Inbev SA NV (NYSE:BUD)
Historical Stock Chart
From Sep 2023 to Sep 2024