Anheuser-Busch InBev NV, the maker of Budweiser lager and Stella Artois pilsner, raised its full-year revenue forecast on higher-than-expected shipments of premium beer.
Revenue per 100 litres of beer sold will rise more than inflation on an organic basis, the world’s biggest brewer said in a statement on Friday. Previously the company expected growth in line with inflation.
Higher-price beers such as Michelob Ultra, Stella Artois and Goose Island boosted growth in the U.S. in the third quarter. Adjusted earnings before interest, taxes, depreciation and amortization rose 9.6 per cent on an organic basis. That compares with the median estimate of 10 analysts for 9.4 per cent growth.
“This result was driven by a robust top-line performance, as well as the benefit of a favourable comparable,” Leuven, Belgium-based AB InBev said.
Revenue rose 7.9 per cent on an organic basis, beating analysts’ estimates for 6.7 per cent growth.
AB InBev has extended takeover talks with rival SABMiller Plc until 4 November to formally agree to a tie-up valued at about $106 billion. The industry’s largest player needs to find new areas of growth in emerging markets as mass-market beer loses ground to small-batch brews in Europe and North America.
Bloomberg News, edited by ESM