Written by StockNews.com
Anheuser-Busch Inbev NV (ADR) (NYSE: BUD) early Thursday posted mixed first quarter earnings results, although its three major beer brands saw huge revenue growth, and investors greeted the report positively in early trading.
The Belgium-based beer giant reported Q1:
- earnings per share (EPS) of $0.74, which was $0.16 worse than the Wall Street consensus estimate of $0.90,
- revenues rose 3.7% from last year to $12.92 billion, topping analysts’ view for $12.83 billion,
- total volumes fell 0.5%...
- combined revenues among InBev’s “big three” beer brands (Budweiser, Stella Artois, and Corona) rose 12.1%.
- Budweiser revenues rose 7.3%,
- Stella Artois revenues jumped 21.1%, and
- Corona revenues surged 18.2%.
Inbev also noted that its combination with SABMiller is going well, with synergies of $252 million achieved during the first quarter.
The company commented via press release:
We will continue fueling the growth of our global brands by leveraging their respective commercial platforms with consistent communication and execution around the world, while expanding to new markets such as Australia, Peru, Colombia and South Africa.
Anheuser Busch Inbev NV (ADR) shares rose $4.96 (+4.39%) in premarket trading Thursday. Year-to-date, BUD has gained 8.81%, versus a 7.15% rise in the benchmark S&P 500 index during the same period.
BUD currently has a StockNews.com POWR Rating of B (Buy) and is ranked #9 of 25 stocks in the Beverages category.
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