Anheuser-Busch InBev SA/NV BUD reported second-quarter FY23 sales growth of 7.2% organic year-on-year to $15.12 billion, missing the analyst consensus of $15.37 billion.
Total volumes declined by 1.4%, with own beer volumes down by 1.8% and non-beer volumes up by 0.5%. Revenue per hl grew 9%.
The company had about 64% of revenue through B2B digital platforms and over $115 million revenue was generated by the digital direct-to-consumer ecosystem.
Gross profit expanded 5.5% organically to $8.1 billion, and gross margin contracted 86 basis points to 53.6%.
Normalized EBITDA for the quarter grew 5% organically to $4.90 billion, with the margin contracting 69 basis points to 32.5%.
Underlying profit for the quarter was $1.45 billion compared to $1.46 billion last year.
Underlying EPS of $0.72 beat the analyst consensus of $0.68.
Outlook: Anheuser-Busch InBev expects its FY23 EBITDA to grow in line with its medium-term outlook of 4%-8% and revenue to grow ahead of EBITDA from a healthy combination of volume and price.
It expects FY23 capital expenditure of $4.5 billion - $5 billion.
Price Action: BUD shares are trading higher by 3.65% at $58.28 in premarket on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.