The earnings call highlighted strong financial metrics and growth in key markets like the U.S. and Europe, while also addressing challenges in China and Brazil. The consistent execution of strategic priorities, particularly in premium brands and digital platforms, contributed to positive results. Despite some volume declines, the overall business demonstrated resilience and growth potential.

Company Guidance -

Q3 2025

During AB InBev's Second Quarter 2025 Earnings Conference Call, the company reported a robust performance despite challenges in certain markets. Key metrics highlighted include a 6.5% increase in EBITDA, a 4.9% growth in revenue per hectoliter, and a 63% increase in GMV for the BEES marketplace, reaching $785 million. Although overall volumes declined by 1.9% due to soft industries in China and Brazil, North America and Europe showed resilience, with top and bottom-line growth. Notably, the non-alcohol beer portfolio saw a 33% revenue increase, highlighting its global outperformance. While the company achieved an 8.7% increase in underlying U.S. dollar EPS and a $0.5 billion rise in free cash flow, its debt-to-EBITDA ratio improved to 3.27x. AB InBev reaffirmed its 2025 outlook of 4% to 8% EBITDA growth, leveraging its diversified geographic footprint and strategic focus on premium brands and innovation.

EBITDA and Margin Expansion

EBITDA increased by 6.5% with continued margin expansion, marking solid financial performance.

U.S. Market Momentum

The U.S. portfolio continued to build momentum, gaining share with a focus on premium brands like Michelob ULTRA and Busch Light.

Non-Alcohol Beer Growth

The non-alcohol beer portfolio outperformed globally with revenues increasing by 33%, led by Corona Cero.

BEES Marketplace Growth

The growth of the BEES marketplace accelerated, with GMV increasing by 63% to reach $785 million.

Strong EPS and Free Cash Flow

Underlying U.S. dollar EPS increased by 8.7%, with a $0.5 billion increase in free cash flow.

European Market Resilience

Improved industry conditions, continued premiumization, and margin recovery led to top- and bottom-line growth in Europe.

Leadership in Beer Brands

AB InBev owns 8 of the top 10 most valuable beer brands globally, with Michelob Ultra and Stella Artois moving up in rankings.

Digital Platform Revenue Growth

Digital platforms generated $134 million in revenue, marking a 6% increase.

Anheuser-Busch Inbev Sa (BUD) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

BUD Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 30, 2025	2025 (Q3)	0.99 / -	0.98	―	―	―
Jul 31, 2025	2025 (Q2)	0.96 / 0.98	0.9	8.89% (+0.08)
May 08, 2025	2025 (Q1)	0.74 / 0.81	0.75	8.00% (+0.06)
Feb 26, 2025	2024 (Q4)	0.69 / 0.88	0.82	7.32% (+0.06)
Oct 31, 2024	2024 (Q3)	0.92 / 0.98	0.86	13.95% (+0.12)
Aug 01, 2024	2024 (Q2)	0.85 / 0.90	0.72	25.00% (+0.18)
May 08, 2024	2024 (Q1)	0.66 / 0.75	0.65	15.38% (+0.10)
Feb 29, 2024	2023 (Q4)	0.77 / 0.82	0.98	-16.33% (-0.16)
Oct 31, 2023	2023 (Q3)	0.83 / 0.86	0.81	6.17% (+0.05)
Aug 03, 2023	2023 (Q2)	0.68 / 0.72	0.73	-1.37% (-0.01)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

BUD Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 31, 2025	$66.54	$57.67	-13.33%
May 08, 2025	$65.50	$67.00	+2.29%
Feb 26, 2025	$54.12	$58.03	+7.22%
Oct 31, 2024	$62.17	$58.67	-5.63%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.