Anheuser-Busch InBev SA
on Thursday reported a fall in net profit for the second quarter of 2022, despite an better-than-expected increase in revenue and volumes, and backed its full-year guidance.
The brewer–which houses the Stella Artois and Budweiser brands among its portfolio–made a net profit of $1.60 billion in the second quarter compared with $1.86 billion for the same period a year earlier.
Organic revenue growth for the quarter was 11%, while volumes rose 3.4% organically. This compares with expectations for increases of 9.5% and 1.9%, respectively, according to a company-provided consensus.
Revenue was driven by management initiatives, the expansion of the beer category across key markets and continuing premiumization–the process of making products appealing to consumers through higher quality and exclusivity–it added.
Normalized earnings before interest, taxes, depreciation and amortization for the quarter increased 7.2% on an organic basis despite commodity and supply-chain cost headwinds, beating the company-provided expectations of a 5.6% rise.
AB InBev backed its 2022 guidance of organic growth in earnings before interest, taxes, depreciation, and amortization to be in the range of 4% to 8%, and revenue to grow ahead of Ebitda, driven by combination of volume and price.
Write to Michael Susin at [email protected]