Anheuser-Busch InBev's stock soared 8.16% during intraday trading on Tuesday, driven by better-than-expected first-quarter financial results and a return to volume growth after years of decline.

The brewer reported adjusted earnings per share of $0.97 for the first quarter, surpassing analyst estimates of $0.89 and marking a 19.75% increase from the same period last year. Revenue came in at $15.27 billion, beating expectations of $14.8 billion and representing 12% year-over-year growth. Notably, the company booked a 0.8% organic increase in total volumes, with beer volumes up 1.2%, ending a period of sliding volumes.

Management reiterated expectations for EBITDA to grow 4% to 8% in FY26, noting that upcoming sporting events including the FIFA World Cup could help drive sales. Analysts at RBC Capital Markets said the strong quarter justifies the share price performance, with every region exceeding expectations.