Anheuser-Busch InBev's 4Q Net Profit Falls 33% as Revenue, Volumes Miss Consensus

By Ronnie Harui

Anheuser-Busch InBev's net profit fell 33% in the fourth quarter of 2023 as both revenue and volumes missed consensus expectations.

The world's largest brewer--which houses Stella Artois and Budweiser among its portfolio--said late Wednesday that net profit dropped to $1.89 billion in the fourth quarter from $2.84 billion a year earlier. Underlying net profit declined to $1.66 billion in the fourth quarter from $1.74 billion a year ago.

Revenue dropped to $14.47 billion in the fourth quarter from $14.67 billion for the same period a year earlier, the company said. The fourth-quarter figure compares with the estimate of $15.505 billion revenue, according to Visible Alpha consensus.

Overall volumes declined to 144.706 million hectoliters in the fourth quarter from 148.775 million hectoliters a year earlier, the company said. The fourth-quarter figure compares with the estimate of 146.3 million hectoliters, according to Visible Alpha consensus.

The company expects 2024 Ebitda growth to be in line with its medium-term outlook of between 4%-8%, reflecting "our current assessment of inflation and other macroeconomic conditions."

Write to Ronnie Harui at ronnie.harui@wsj.com

(END) Dow Jones Newswires

February 28, 2024 22:25 ET (03:25 GMT)

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