On Wednesday, Anheuser-Busch InBev SA/NV (NYSE:BUD), the parent company of Budweiser beer reported fourth-quarter FY24 sales growth of 3.4% year-on-year to $14.84 billion, beating the analyst consensus estimate of $14.05 billion.
On an Organic basis, total volumes declined by 1.9%, with own beer volumes down by 2.1% and non-beer volumes declining by 1.1%. Revenue per hl grew 4.3%.
Gross profit expanded 6.3% organically to $8.19 billion, and gross margin expanded 153 basis points to 55.2%.
Normalized EBITDA for the quarter grew 10.1% organically to $5.3 billion, with the margin expanding 216 basis points to 35.3%.
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The underlying profit for the quarter was $1.770 billion compared to $1.66 billion last year. Underlying EPS of $0.88 beat the consensus estimate of $0.72.
Operating cash flow for twelve months totaled $15.01 billion. The company held $11.2 billion in cash and equivalents as of December end.
"Beer is a passion point for consumers and a vibrant category globally. The strength of our 2024 results is a testament to the consistent execution of our strategy and the hard work and dedication of our people," said CEO Michel Doukeris.
Dividend: The AB InBev Board proposed a full year 2024 dividend of 1.00 euro per share, subject to shareholder approval at the AGM on 30 April 2025.
Outlook: Anheuser-Busch InBev expects its FY25 EBITDA growth of 4%-8%. It expects FY25 capital expenditure of $3.5 billion – $4 billion.
Price Action: At the last check on Wednesday, BUD shares traded higher by 8.08% to $59.20 premarket.
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