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Ambev Profit Rose on Lower Aluminum Cost

By Jeffrey T. Lewis


SÃO PAULO--Ambev's profit rose in the third quarter, boosted by lower commodities costs, especially for aluminum.

The São Paulo-based brewer posted net income of 4.0 billion reais, equivalent to $793 million, from BRL3.2 billion a year earlier. Earnings per share reached BRL0.25 from BRL0.20 a year earlier.

Net revenue reached BRL20.3 billion from BRL20.6 billion a year earlier. The figure for EPS beat market expectations, while net sales underperformed. The consensus compiled by FactSet was for EPS of BRL0.22 and for net sales of BRL21.4 billion.

The volume of sales fell to 45.3 million hectoliters from 46.4 million a year earlier. The company's cost of goods sold at its Brazil Beer business, which accounts for close to half its sales, declined 1.3% in the third quarter from a year earlier, helped by lower prices for aluminum.

Ambev is controlled by Anheuser-Busch InBev SA, the world's biggest beer producer, and brews and markets brands including Budweiser, Brahma and Corona. Brazil is Ambev's biggest market, but the company also operates in other countries in the Americas including Canada, Argentina and Chile.


Write to Jeffrey T. Lewis at


(END) Dow Jones Newswires

October 31, 2023 07:30 ET (11:30 GMT)

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