AB InBev Swung to 1Q Net Profit as Sales Beat Expectations
May 06 2021 - 12:51AM
Dow Jones News
By Adria Calatayud
Anheuser-Busch InBev SA said Thursday that it swung to a
first-quarter net profit as sales grew and beat expectations, and
that a combination of volume and price will drive revenue growth
this year.
The world's largest brewer--with brands such as Budweiser,
Stella Artois and Corona--said sales grew 17% in the first quarter
on an organic basis, while total organic volume growth was 13%.
Analysts had expected AB InBev to report first-quarter organic
growth in sales and volumes of 8.7% and 7.3%, respectively,
according to consensus estimates compiled by the company.
AB InBev made a profit for the quarter of $595 million compared
with a loss of $2.25 billion for the same period last year.
Revenue was $12.29 billion compared with $11.00 billion a year
before.
The company said it expects normalized earnings before interest,
taxes, depreciation and amortization to grow between 8% and 12%
this year, and revenue to grow ahead of Ebitda from a combination
of volume and price. The company had previously said it expected
its top and bottom-line results in 2021 to improve meaningfully
compared with 2020.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
May 06, 2021 01:36 ET (05:36 GMT)
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