Want to see BUD full AI Analyst Report?

Anheuser-Busch Inbev Sa (BUD) Earnings Dates, Call Summary & Reports

3,082 Followers

Earnings Data

Report Date

Jul 30, 2026

Before Open (Confirmed)

Period Ending

2026 (Q2)

Consensus EPS Forecast

1.12

Last Year’s EPS

0.98

Same Quarter Last Year

Analyst Consensus

Strong Buy

Based on 6 Analysts Ratings

Earnings Call Summary

Q4 2025

Earnings Call Date:Feb 12, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call emphasized disciplined execution and multiple positive financial and strategic outcomes — EPS growth, EBITDA and margin expansion, strong momentum in Beyond Beer, non-alcohol and BEES Marketplace, significant buybacks and a higher dividend — while acknowledging ongoing volume headwinds, a notable revenue decline in China, and transactional FX/hedging pressures. Management highlighted improving momentum into late Q4 and early 2026 and reiterated mid-term outlook, but cautioned on near-term phasing and market-specific challenges.

Company Guidance

AB InBev guided 2026 to organic EBITDA growth of 4–8%, with net capital expenditures of $3.5–4.0 billion and a normalized effective tax rate of 26–28%, reiterating that this is in line with its medium‑term outlook; management also signalled continued margin upside after 2025’s 101 bps EBITDA margin expansion. On capital allocation, the company is executing a further $6.0 billion share buyback (after $3.2 billion completed), proposed a €1.00 final dividend (bringing total dividends to a 15% year‑over‑year increase including the interim), repurchased $2.7 billion of debt in 2025 and finished the year at 2.87x leverage despite a $2.8 billion FX headwind, with no bonds maturing in 2026 and a weighted average bond maturity of 13 years. Operational and digital targets underpin the guidance: 2025 saw revenue/hl +4.4%, revenue +2%, EBITDA +4.9%, underlying EPS $3.73 (+6% in USD, +9.4% constant currency) and underlying profit growth of $350 million; BEES GMV was $53 billion (+12%) with Marketplace GMV $3.5 billion (+61%), DTC served 12.3 million consumers (+11%), Beyond Beer revenue +23% and non‑alcohol beer revenue +34%, metrics management expects to leverage while investing behind brands and major activations (e.g., the World Cup).

Underlying EPS and Profit Growth

Underlying EPS of $3.73, up 6% in U.S. dollars and 9.4% in constant currency; underlying profit increased by $350 million. Dollar-based EPS has grown at a CAGR of 6.7% since 2021.

EBITDA Growth and Margin Expansion

EBITDA increased 4.9% year-over-year with margin expansion of 101 basis points, with margin improvement across 4 of 5 operating regions.

Topline and Revenue-per-Unit Improvement

Revenue per hectoliter rose 4.4%, driving top-line growth of 2%; revenue increased in 65% of markets.

Strong Growth in Beyond Beer and Non-Alcohol Portfolio

Beyond Beer revenue grew 23% and the non-alcohol beer portfolio increased revenue by 34%; non-alcohol beer gaining share in ~70% of top 14 markets.

Digital Ecosystem Momentum — BEES and DTC

BEES captured $53 billion in GMV (up 12% year-over-year); BEES Marketplace GMV grew 61% to $3.5 billion. DTC consumer base reached 12.3 million, up 11%.

Free Cash Flow, Capital Allocation and Balance Sheet Progress

Solid free cash flow enabled $3.2 billion completed share buybacks and an ongoing $6 billion buyback program; repurchased $2.7 billion of debt; leverage improved to 2.87x despite a $2.8 billion FX headwind; Board proposed final dividend EUR 1/share, combined dividend +15% year-over-year.

Mega Brands and Innovation Driving Premiumization

Mega brands have grown revenue at a 10% CAGR since 2021 and now represent 57% of revenues. Innovations (packaging, brands, liquids) contributed 11% of total revenue in 2025. Corona volumes doubled since 2018 and grew double digits in 30 markets in 2025.

Regional Operational Wins

U.S. gained share in beer and spirits with Michelob ULTRA and Busch Light as top volume share gainers; Cutwater grew triple digits. Mexico delivered mid-single-digit top- and bottom-line growth; Colombia delivered double-digit EBITDA growth; Brazil returned to volume growth in December; South Africa delivered mid-single-digit revenue and EBITDA growth.

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
Jul 30, 2026	2026 (Q2)	1.12 / -	0.98	―	―	―
May 05, 2026	2026 (Q1)	0.89 / 0.97	0.81	19.75% (+0.16)
Feb 12, 2026	2025 (Q4)	0.89 / 0.95	0.88	7.95% (+0.07)
Oct 30, 2025	2025 (Q3)	0.96 / 0.99	0.98	1.02% (+0.01)
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)

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
May 05, 2026	$73.10	$79.49	+8.74%
Feb 12, 2026	$76.41	$79.32	+3.81%
Oct 30, 2025	$60.64	$59.23	-2.33%
Jul 31, 2025	$65.68	$56.92	-13.33%

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.