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Ambev SA (ABEV)
NYSE:ABEV
Earnings Data
Report Date
May 05, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.05Last Year’s EPS
0.04Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a cautiously positive tone: management highlights clear progress on margin expansion, revenue per hectoliter growth, strong digital ecosystem performance (BEES and Zé Delivery), meaningful shareholder returns, and disciplined cost execution — all offsetting significant cyclical volume headwinds largely attributed to weather and occasion disruption. While several operating and macro challenges (volumes, FX losses, near-term cost inflation, and regional softness) are material, the balance of results shows resilient profitability, strategic momentum in digital and premium segments, and confidence in a gradual recovery into 2026.Company Guidance
Consolidated Margin Expansion and Profitability
Consolidated normalized EBITDA margin expanded 50 bps to 33.4% in 2025; Brazil Beer EBITDA margin expanded ~110 bps. Normalized EBITDA growth was delivered across the portfolio, and the company reported stated net income of ~BRL 16 billion with stated EPS up 8.2% YoY and normalized EPS up 2% YoY.
Revenue per Hectoliter and Pricing Execution
Net revenue per hectoliter grew 7.5% YoY, driven by stronger brands, revenue management, and continued premiumization across business units.
Digital Ecosystem & BEES Marketplace Growth
BEES marketplace full-year GMV grew 70% YoY with gross margin up 3.5 percentage points, demonstrating strong scale and improving economics for the B2B digital channel.
Zé Delivery Performance and Consumer Reach
Zé Delivery delivered BRL 4.7 billion in GMV (+13% YoY), processed 67 million orders, and reached 27 million yearly active users (+11% YoY); ~80% of buyers are Gen Z or millennials, strengthening access to younger consumers.
Segment and Portfolio Wins (Premium, Balanced, Nonalcohol)
Led category growth where it expanded: premium and super premium volumes grew in the high-teens, balanced-choice brands grew in the high-60s, and nonalcohol volumes grew ~30%. In Q4, the company captured an estimated 100% of Brazilian beer industry's growth in premium and nonalcohol.
Cash Generation and Shareholder Returns
Operating cash flow totaled BRL 24.5 billion. The company returned BRL 21.7 billion to shareholders on a cash basis (≈90% of operating cash flow) and announced ~BRL 20 billion in shareholder returns for 2025 (BRL 13.2b dividends, BRL 4.2b interest on capital, BRL 2.5b buyback program).
Operational Discipline and Cost Management
Brazil Beer cash COGS per hectoliter (ex-marketplace products) increased 6.1% in 2025, landing in the lowest quartile of prior guidance due to productivity initiatives and industrial/logistics efficiencies; SG&A growth was controlled while maintaining brand investment.
ABEV Earnings History
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
ABEV Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 12, 2026 | $3.05 | $3.20 | +4.92% |
Oct 30, 2025 | $2.07 | $2.18 | +5.51% |
Aug 01, 2025 | $2.05 | $2.05 | 0.00% |
May 08, 2025 | $2.33 | $2.35 | +1.20% |
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.
FAQ
When does Ambev SA (ABEV) report earnings?
Ambev SA (ABEV) is schdueled to report earning on May 05, 2026, Before Open (Confirmed).
What is Ambev SA (ABEV) earnings time?
Ambev SA (ABEV) earnings time is at May 05, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ABEV EPS forecast?
ABEV EPS forecast for the fiscal quarter 2026 (Q1) is 0.05.