Why Anheuser-Busch (BUD) Stock Is Rising

Why Anheuser-Busch (BUD) Stock Is Rising

Anheuser-Busch Inbev SA BUD shares are trading higher by 5.42% to $49.78 during Thursday's session after the company reported third-quarter earnings results and issued guidance.

What Happened?

Anheuser-Busch reported quarterly adjusted earnings of 84 cents per share which met the analyst consensus estimate.

The company reported quarterly sales of $15.09 billion which missed the analyst consensus estimate of $15.16 billion by less than 1%.

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"We delivered broad-based volume growth of 3.7% this quarter resulting in an accelerated increase in revenue of 12.1%. We continue to see strong consumer demand for our portfolio and a resilient beer category as we navigate the dynamic operating environment. As a result of our performance and continued momentum, we are raising the bottom-end of our FY22 EBITDA outlook," said Michel Doukeris, CEO, AB InBev.

According to data from Benzinga Pro, Anheuser-Busch has a 52-week high of $67.91 and a 52-week low of $44.51.

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