Anheuser-Busch Alcohol. InBev’s profits were higher than expected in the first quarter, which was the last time that the boycott of Bud Light would have an effect on growth.
Anheuser-Busch Alcohol. InBev said its profit dropped from $1.64 billion to $1.09 billion in the first quarter, but its sales went up 2.6% to $14.55 billion.
The number of cents it earned per share went up from 65 cents to 75 cents.
According to a poll by Visible Alpha, analysts thought the company would make 62 cents per share in operating earnings on $14.4 billion in sales.
Shares of the company listed in Brussels (ABI, 4.63% BUD, +1.64%) went up 5% in early trading. Eighty-two weeks later, they’re up 5%.
Organic volume dropped 0.6% because gains in Europe, Mexico, and Colombia mostly cancelled out a drop of almost 10% in North America.
In the U.S., sales have dropped sharply since transgender star Dylan Mulvaney shared a social media post about a personalised Bud Light can, which made customers angry and confused.
Specifically in the U.S., EBITDA dropped by 17.9% while revenue dropped by 9.1%.
Since Mulvaney’s Bud Light-promoting social media post was made on April 1, 2023, the company’s future performance will be compared to how it did after the boycotts started.
