By Michael Susin
Anheuser-Busch InBev SA on Thursday reported a fall in net profit for the second quarter of 2022, despite an better-than-expected increase in revenue and volumes, and backed its full-year guidance.
The brewer--which houses the Stella Artois and Budweiser brands among its portfolio--made a net profit of $1.60 billion in the second quarter compared with $1.86 billion for the same period a year earlier.
Organic revenue growth for the quarter was 11%, while volumes rose 3.4% organically. This compares with expectations for increases of 9.5% and 1.9%, respectively, according to a company-provided consensus.
Revenue was driven by management initiatives, the expansion of the beer category across key markets and continuing premiumization--the process of making products appealing to consumers through higher quality and exclusivity--it added.
Normalized earnings before interest, taxes, depreciation and amortization for the quarter increased 7.2% on an organic basis despite commodity and supply-chain cost headwinds, beating the company-provided expectations of a 5.6% rise.
AB InBev backed its 2022 guidance of organic growth in earnings before interest, taxes, depreciation, and amortization to be in the range of 4% to 8%, and revenue to grow ahead of Ebitda, driven by combination of volume and price.
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(END) Dow Jones Newswires
July 28, 2022 01:43 ET (05:43 GMT)Copyright (c) 2022 Dow Jones & Company, Inc.