BUD

Track your investments for FREE with Simply Wall St, the portfolio command center trusted by over 7 million individual investors worldwide. Anheuser-Busch InBev (ENXTBR:ABI) is back in focus after reporting half year 2026 earnings, with sales of US$31.9b and net income of US$6.3b, alongside a dividend increase and reaffirmed EBITDA guidance. See our latest analysis for Anheuser-Busch InBev. The half year 2026 update appears to have shifted sentiment around Anheuser-Busch InBev, with the share price at €75.2 and a 90 day share price return of 16.77% feeding into a 52.39% 1 year total shareholder return. This suggests momentum has been building through the year. If the earnings news has you thinking about where else strong trends might be emerging, this is a good moment to scan the market using the 106 top founder-led companies Bulls point to Anheuser-Busch InBev’s stronger earnings, dividend lift and cleaner balance sheet. Bears focus on the sharp share price run. Does the data suggest the stock is still priced conservatively, or already fully valued? At a last close of €75.2, the most followed narrative on Anheuser-Busch InBev points to a fair value of €89.45, which frames the recent rally in a different light. Read the complete narrative. Want to see how this narrative gets to that higher fair value for Anheuser-Busch InBev? The core assumptions sit in revenue mix, margin strength and the earnings multiple that ties it all together. Result: Fair Value of €89.45 (UNDERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, this Anheuser-Busch InBev narrative could be challenged if premiumization stalls or if higher interest costs slow progress on balance sheet repair. Find out about the key risks to this Anheuser-Busch InBev narrative. If this Anheuser-Busch InBev story feels finely balanced between opportunity and concern, now is the time to review the data and form your own stance, including the 4 key rewards and 1 important warning sign If Anheuser-Busch InBev has sharpened your focus on quality, now may be a time to broaden your watchlist with a few targeted stock ideas. Target potential mispricings by scanning for companies that combine strong fundamentals with appealing valuations through the 257 high quality undervalued stocks Focus on resilience by using the 304 resilient stocks with low risk scores to see stocks that score well on stability and risk controls. Hunt for companies before they are widely followed by checking the screener containing 535 high quality undiscovered gems This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include ABI.BR. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Make better investment decisions with Simply Wall St's easy, visual tools that give you a competitive edge. Anheuser-Busch InBev stock has delivered a strong 52.4% return over the past year, and the current checks still suggest the shares screen as undervalued rather than fully priced in. The 52.4% one year return sets a high bar for new buyers, since a lot of optimism can already be embedded in the share price after such a move. Recent volume and earnings growth can support higher earnings expectations, while any setback in brand momentum or consumer demand may weigh quickly on what investors are willing to pay for Anheuser-Busch InBev. The company scores 5 out of 6 on the valuation checks, which points to a stock that still looks inexpensive on most of the metrics assessed. The issue now is whether Anheuser-Busch InBev’s current price around US$75.20 still leaves enough potential upside for new investors after such a strong run. Anheuser-Busch InBev delivered 52.4% returns over the last year. See how this stacks up to the rest of the Beverage industry. The P/E multiple suits Anheuser-Busch InBev because investors often look at earnings power first for a global consumer staples group. On this measure, Anheuser-Busch InBev trades on about 18.3x earnings, which sits very close to the Beverage industry average near 18.3x. Compared with a peer group average of about 27.7x, the stock is priced at a clear discount. The fair P/E ratio implied by the checks is about 28.1x, which is well above the current 18.3x level. Despite the strong Q2 2026 update, with higher underlying EPS and steady volume growth, the P/E still does not fully line up with what this framework suggests investors might usually pay for the business. That gap points to a market price that does not yet reflect the earnings profile implied by the fair ratio. On the P/E multiple, Anheuser-Busch InBev stock currently appears undervalued. See what the numbers say about this price — find out in our valuation breakdown. Simply Wall St Narratives pick up where the valuation puzzle for Anheuser-Busch InBev leaves off by spelling out which paths for growth, margins and earnings would need to hold for the stock to be worth meaningfully more or less than today’s price. Each Narrative links a fair value to a specific story about Anheuser-Busch InBev's possible catalysts and risks, so you can track over time which version of events appears to be unfolding on the Community page. Community views on Anheuser-Busch InBev sit far apart, with one camp focused on an empire still being optimised and another on a stock that already bakes in a lot of value. Bull case: 16% undervalued Read the full Bull Case to see why Anheuser-Busch InBev could be undervalued Bear case: 20% overvalued Read the full Bear Case to see why Anheuser-Busch InBev could be overvalued Do you think there's more to the story for Anheuser-Busch InBev? Head over to our Community to see what others are saying! Anheuser-Busch InBev still screens as undervalued on market multiples, even after a strong 1 year return. The key question now is whether the current P/E discount persists or closes over time. That hinges on how confidently investors see earnings quality, brand strength and execution holding up from here. The crux of the bull versus bear debate is whether today’s discount reflects a genuine opportunity or fairly prices the risk that growth, margins or demand do not meet the expectations implied by a higher multiple. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include ABI.BR. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Interested in Anheuser-Busch InBev SA/NV? Here are five stocks we like better. Strong second-quarter results: Beer volumes grew 1.1%, total volumes rose 0.9%, and revenue increased 5.6% as AB InBev gained global market share. Underlying EPS climbed 23.4% to $1.21, while first-half free cash flow rose to $3.9 billion. Growth driven by key brands and digital channels: Mega-brand revenue increased 6.2%, Corona revenue outside Mexico rose 17%, and non-alcohol beer revenue jumped 27%. Digital marketplace GMV grew 16% to $15 billion, with third-party BEES sales up 50%. China remains a weak spot, but outlook reaffirmed: China revenue declined 8.8% amid weak on-premise demand and adverse weather, although market-share trends improved sequentially. Management maintained its 2026 EBITDA growth forecast of 4% to 8% while continuing to reduce leverage. The World Cup Is Coming—These 3 Stocks Could Cash In Anheuser-Busch InBev SA/NV (NYSE:BUD) reported higher second-quarter revenue, earnings and free cash flow as beer volumes returned to growth and the brewer gained market share globally, while management said conditions remained challenging in China. Chief Executive Officer Michel Doukeris said beer volumes increased 1.1% in the second quarter, supported by record second-quarter volumes in markets including Mexico, Colombia and Ecuador. Total volumes rose 0.9%, while revenue increased 5.6% and revenue per hectoliter advanced 4.2%, driven by mix and revenue-management actions intended to offset rising inflation and input costs. → Why SK hynix Could Be the Best AI Chip Stock to Buy Now Before the IPO: 4 Companies That Rewarded Investors Who Got In Early Underlying earnings per share rose 23.4% to $1.21. First-half free cash flow increased by $2.5 billion to $3.9 billion, the company said. Doukeris said the company’s mega brands, non-alcohol beer offerings and Beyond Beer portfolio contributed to growth. Revenue from mega brands increased 6.2%, while Corona revenue outside Mexico rose 17%. Corona posted double-digit volume gains in 37 markets, according to the company. → Microsoft Just Flipped the AI Spending Narrative Overnight Anheuser-Busch Stock Jumps as Volume Growth Signals Turnaround Non-alcohol beer revenue increased 27%, led by Corona Cero and Michelob ULTRA Zero. Management estimated that 60% of non-alcohol beer volume came from new occasions and new consumers. In the U.S., Busch Light Apple, which returned in April, became the second-largest volume share gainer in the total industry during the quarter, Doukeris said. In North America, AB InBev said it gained share in beer and Beyond Beer. Michelob ULTRA, Busch Light and Busch Light Apple were the top three beer volume share gainers in the U.S. industry, according to management. The company’s Beyond Beer revenue grew in the mid-70% range, led by Cutwater’s triple-digit revenue growth. Doukeris said Cutwater was the top share-gaining brand in the U.S. spirits industry during the quarter. Mexico: Revenue grew in premium, mainstream, non-alcohol beer and Beyond Beer, producing mid-single-digit revenue growth and high-single-digit bottom-line growth, with market share gains. Colombia: Record second-quarter volumes supported double-digit top- and bottom-line growth. Management estimated its portfolio gained share of total alcohol. Brazil: Beer volumes increased as the company gained market share and industry conditions improved. Premium and super-premium brands grew volume in the mid-20% range. Europe and South Africa: European volumes rose by low single digits, while South Africa posted mid-single-digit top- and bottom-line growth. South African premium and super-premium beer volumes grew in the high-20% range. → Carrier Earnings Could Send the Stock to a New All-Time High China remained a weak spot. Revenue in the market declined 8.8% as AB InBev underperformed what Doukeris characterized as a soft industry affected by adverse weather and continued weakness in on-premise consumption. He said the Chinese beer industry could decline by a high-single-digit percentage in the second quarter, based on the company’s view as data is consolidated. While AB InBev’s China volumes remained under pressure, Doukeris said its market-share trend improved sequentially. Its super-premium and core-plus brands returned to growth, and the company is investing in brand building, execution and expansion of its in-home and off-trade presence. AB InBev said its digital ecosystem processed $15 billion in gross merchandise value during the second quarter, up 16% from a year earlier. The company said it has more than 25 billion annualized AI-driven touchpoints across its ecosystem. The BEES marketplace’s gross merchandise value from third-party products increased 50% to $1.2 billion. Digital direct-to-consumer platforms served 13 million consumers and generated $165 million in revenue. The company said its growing direct-to-consumer marketplace has annualized GMV of $200 million. During the question-and-answer session, Doukeris said the marketplace has been profitable since its inception and is incremental to EBITDA. He described it as equivalent in size to a top-20 country for the company and as one of the top 10 contributors to EBITDA growth. Chief Financial Officer Fernando Tennenbaum said AB InBev invested $7.9 billion in sales and marketing over the last 12 months and increased those investments organically by 9% in the first half. Disciplined overhead management and resource allocation helped offset transactional foreign-exchange headwinds while allowing the company to maintain margins and increase commercial investments, he said. Constant-currency EPS increased 12.9%, while translation effects helped lift dollar-denominated EPS by 23.4%. Tennenbaum attributed the first-half free-cash-flow improvement to EBITDA growth and working-capital improvements. The company increased its dividend, repurchased shares and completed selective acquisitions, including MCC and BeatBox, while continuing to reduce leverage. Net debt to EBITDA improved 0.4 turns year over year to 2.86 times. Tennenbaum said AB InBev has no bonds maturing in 2026, a weighted-average bond maturity of 12 years and no financial covenants. Management reaffirmed its outlook for 2026 EBITDA growth of 4% to 8%. Tennenbaum said the company continues to expect growth to be more evenly distributed between the first and second halves of the year, although sales and marketing spending is expected to be more weighted toward the second and third quarters, partly reflecting World Cup-related activity. Anheuser-Busch InBev SA/NV (NYSE: BUD) is a multinational brewing company headquartered in Leuven, Belgium. It is one of the world's largest brewers and is primarily engaged in the production, distribution and marketing of beer and related beverages. The company's operations span brewing, packaging, logistics and retail/customer sales support, serving a broad set of channels from on-premise hospitality to retail and e-commerce. AB InBev's portfolio includes a mix of global, regional and local beer brands across mainstream, premium, craft and non-alcoholic categories. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Anheuser-Busch InBev SA/NV Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

Solid top- and bottom-line performance: Revenue up by 5.6%, Beer volume growth of 1.1% and a 23.4% Underlying EPS increase BRUSSELS, July 30, 2026--(BUSINESS WIRE)--Anheuser-Busch InBev (Brussel:ABI) (BMV:ANB) (JSE:ANH) (NYSE:BUD): Regulated information1 "Cheers to beer – our performance this quarter reflects the strength of the beer category and the consistent execution of our strategy. Through investment in our megabrands and mega platforms, innovation and offering more choices across more occasions, we are strengthening the cultural relevance of our brands with consumers. Thank you to our colleagues for their commitment and disciplined execution, which position us well to continue our momentum." – Michel Doukeris, CEO, AB InBev The 2026 Half Year Financial Report is available on our website at www.ab-inbev.com. Management comments Consistent and compounding growth with beer volume up by 1.1% and a 23.4% Underlying EPS increase The momentum of our business continued in 2Q26, with broad-based volume growth and a 23.4% increase in Underlying EPS. While the consumer environment remains dynamic, consistent execution of our strategy and investment in our megabrands and mega platforms enabled solid top- and bottom-line results. We strengthened our portfolio brand power and estimate that we gained market share across our footprint, maintaining or gaining share in 70% of our markets. Revenue increased by 5.6%, with total volume growth of 0.9% and a revenue per hl increase of 4.2%, driven by revenue management and positive mix from premiumization and Beyond Beer. Beer volumes grew by 1.1%, with record high second quarter volumes in Mexico, Colombia, and Ecuador. Beer volumes in Brazil returned to growth, and in the US we delivered continued top-line growth and market share gains in both beer and Beyond Beer. EBITDA increased by 5.8% with flattish margins as overhead management enabled increased sales and marketing investment and offset transactional FX headwinds. Free cash flow increased by 2.5 billion USD versus HY25 to 3.9 billion USD, driven by disciplined execution and the continued optimization of our business. Key highlights from the quarter included: global megabrand momentum, with Corona, Stella Artois and Michelob Ultra growing revenue by 17%, 19% and 21%, respectively, outside of their home markets; successful activation of the FIFA World Cup across our markets, supporting growth of Michelob Ultra in the US and providing a platform to expand the brand across key markets in Latin America; no-alcohol beer revenue growth of 27%, Beyond Beer revenue growth of 44%, and BEES Marketplace GMV growth of 50% to 1.2 billion USD. Progressing our strategic priorities We are executing on three key strategic pillars to deliver consistent growth and long-term value creation. (1) Lead and grow the category: We strengthened our portfolio brand power and estimate that we gained or maintained share in 70% of our markets in 2Q26. (2) Digitize and monetize our ecosystem: BEES Marketplace GMV increased by 50% versus 2Q25 to 1.2 billion USD from third-party products. Overall BEES GMV increased by 16% versus 2Q25 to 15.0 billion USD. (3) Optimize our business: We continued to strengthen our balance sheet, with net debt to EBITDA improving to 2.86x as of 30 June 2026 from 3.27x as of 30 June 2025. (1) Lead and grow the category Investment in our megabrands and mega platforms continued to build portfolio brand power, with sales and marketing investment reaching 4.1 billion USD in HY26, up 9% versus HY25. According to the Kantar BrandZ 2026 report, our portfolio holds 8 of the top 10 most valuable beer brands in the world, with Corona and Budweiser ranked #1 and #2, respectively. Our mega platforms strengthened the cultural relevance of our brands during some of the world’s largest moments of celebration, including the Winter Olympics, Roland Garros, Wimbledon and the FIFA World Cup. Across these occasions, our portfolio achieved the #1 share of digital engagement and generated 850 million consumer engagements on social media. Our marketing capabilities were recognized as we were named the Cannes Lions 2026 Creative Marketer of the Year, making us the only company in history to receive this recognition three times. We continued to execute on our category expansion levers and estimate that the number of legal drinking age consumers purchasing our portfolio increased in HY26 with gains in Beyond Beer and Balanced Choices. Core Superiority: Revenue of our mainstream portfolio increased by 2.7% in 2Q26, driven by double-digit growth in Colombia and high-single digit growth in Peru and Ecuador. Premiumization: Our above core beer portfolio delivered a 6.9% revenue increase in 2Q26, led by Corona, Stella Artois and Michelob Ultra, which grew revenue by 17%, 19% and 21%, respectively, outside of their home markets. Corona led the premiumization of our portfolio globally, delivering double-digit volume growth in 37 markets. Michelob Ultra expanded across Latin America in 2Q26, with 40% of its volume growth coming from markets outside of the US. Balanced Choices: Our portfolio of low carb, low calorie, sugar free, gluten free and no-alcohol beer brands delivered a revenue increase of 13% in 2Q26. Our no-alcohol beer portfolio led performance, with revenue up by 27% and estimated share gains strengthening our leadership in no-alcohol beer by value, according to Nielsen. Beyond Beer: Growth of our portfolio accelerated, increasing revenue by 44% in 2Q26. Performance was led by the expansion of Flying Fish globally and by Cutwater in the US, which increased revenue by triple-digits and was the 2nd largest contributor by brand to our overall revenue growth in 2Q26. (2) Digitize and monetize our ecosystem Digitizing our relationships with more than 6 million customers globally: As of 30 June 2026, BEES was live in 30 markets with 72% of our revenues captured through B2B digital platforms. In 2Q26, BEES captured 15.0 billion USD in GMV, up 16% versus 2Q25. Monetizing our route-to-market; delivering more than 1 billion USD in quarterly GMV: BEES Marketplace GMV increased by 50% versus 2Q25 to approximately 1.2 billion USD from third-party products. Leading the way in DTC solutions: Our digital DTC megabrands, Zé Delivery, TaDa Delivery and PerfectDraft, served 13 million active consumers and generated 165 million USD in revenue, 12% growth versus 2Q25. Sales of third-party products through our DTC marketplace reached 50 million USD in GMV, a 63% increase versus 2Q25. (3) Optimize our business Maximizing value creation: Continued optimization of our business and operating leverage through the P&L drove EBIT growth of 8.0% and a free cash flow increase of 2.5 billion USD versus HY25. We strengthened our balance sheet, with net debt to EBITDA improving to 2.86x from 3.27x as of 30 June 2025. As of 24 July 2026, we completed 1.9 billion USD of our 6 billion USD share buyback program announced on 30 October 2025. Advancing our sustainability priorities: Our water use efficiency ratio improved to 2.3 hl per hl in HY26 versus 2.4 hl per hl in HY25. Our average energy efficiency globally improved to 81.6 MJ/hl in HY26 versus 84.8 MJ/hl in HY25. Our absolute Scopes 1 and 2 emissions were 1.55 million metric tons of CO2e in HY26, a 0.8% decrease compared to HY25. Continued momentum and reliable compounding growth In HY26, our business delivered 5.7% revenue growth, 5.6% EBITDA growth and a 22.1% increase in Underlying EPS, driven by beer volume growth, revenue and cost management capabilities, and positive mix. We strengthened our portfolio brand power through investment in our megabrands and mega platforms, scaling our innovations and providing more choices across more occasions. Performance across our megabrands, Balanced Choices, Beyond Beer and BEES Marketplace reflects the strength of our portfolio and the consistent execution of our strategy. The continued momentum of our business, disciplined execution by our teams and the strength of the beer category reinforce our confidence in our ability to deliver our FY26 outlook and create a future with more cheers. 2026 Outlook (i) Overall Performance: We expect our EBITDA to grow in line with our medium-term outlook of between 4-8%. The outlook for FY26 reflects our current assessment of inflation and other macroeconomic conditions. (ii) Net Finance Costs: Net pension interest expenses and accretion expenses are expected to be in the range of 190 to 220 million USD per quarter, depending on currency and interest rate fluctuations. We expect the average gross debt coupon in FY26 to be approximately 4%. (iii) Effective Tax Rate (ETR): We expect the normalized ETR in FY26 to be in the range of 26% to 28%. The ETR outlook does not consider the impact of potential future changes in legislation. (iv) Net Capital Expenditure: We expect net capital expenditure of between 3.5 and 4.0 billion USD in FY26. Key Markets Performance United States: Portfolio momentum drove beer and Beyond Beer share gains and continued top-line growth Operating performance: Commercial highlights: We were the #1 share gainer in total alcohol in both 2Q26 and HY26 driven by share gains in both beer and spirits, according to Circana. Our beer performance in 2Q26 was led by Michelob Ultra, Busch Light and Busch Light Apple, which were the top 3 volume share gainers in the industry. Our Beyond Beer portfolio continued to expand our total addressable market and delivered revenue growth in the mid-seventies. Cutwater grew revenue in the triple-digits and was the #1 share gaining brand in the total spirits industry. We are the leader in no-alcohol beer, with our portfolio gaining share and growing revenue in the mid-thirties led by Michelob Ultra Zero which was the #1 share gainer in no-alcohol beer. Mexico: Market share gain and margin expansion drove mid-single digit top- and high-single digit bottom-line growth Operating performance: Commercial highlights: We are strengthening our portfolio architecture and expanding our total addressable market by offering consumers more choices across more occasions. Performance in 2Q26 was led by our above core beer portfolio, which grew revenue by high-single digits driven by Modelo and Pacifico, while our mainstream beer portfolio grew by mid-single digits. We strengthened our position as the industry leader in no-alcohol beer, with our portfolio growing volume by high-thirties led by Modelo Cero and the launch of Michelob Ultra Zero. In Beyond Beer, our portfolio grew volume by high-teens, led by the Vicky’s brand family and Flying Fish. Colombia: Record high volumes drove double-digit top- and bottom-line growth Operating performance: Commercial highlights: Increased brand power drove momentum across our portfolio, with volume and revenue growth across all price segments in 2Q26 and record high second quarter volumes. Above core beer led our performance, with mid-teens volume growth driven by Corona. Our mainstream beer portfolio continued to grow, delivering a high-single digit volume increase. Brazil: Market share gain and an improved industry drove beer volume growth and a double-digit bottom-line increase Operating performance: Commercial highlights: Innovation and investment behind our megabrands and mega platforms strengthened our portfolio brand power and drove continued market share gains. Premium and super premium beer led our performance in 2Q26, delivering mid-twenties volume growth and strengthening our leadership position of the premium segment. Mainstream beer improved sequentially, delivering flattish volumes and estimated to have gained share of the segment. We are leading the industry in Balanced Choices, with volumes of our no-alcohol beer portfolio growing in the low-thirties and Stella Artois Pure Gold and Michelob Ultra growing by triple digits. In Beyond Beer, our portfolio grew volumes by strong double digits, led by Beats and Flying Fish. Europe: Volume growth and premiumization drove a low-single digit top-line increase Operating performance: Commercial highlights: Market share gains, innovation and premiumization drove low-single digit volume growth in both 2Q26 and HY26. Our performance in 2Q26 was driven by our megabrands, led by Corona which delivered mid-teens volume growth. We are building strong consumer connection with our brands through our mega platforms and innovations. We successfully activated Roland Garros with Stella Artois, launched Stella Artois Strawberries & Cream ahead of Wimbledon and expanded the availability of Modelo Especial in the UK. Our no-alcohol beer portfolio grew volumes by low-teens, led by Corona Cero. South Africa: Disciplined revenue management and margin expansion drove mid-single digit top- and bottom-line growth Operating performance: Commercial highlights: Investment in our megabrands and innovations drove increased portfolio brand power in 2Q26. Premium and super premium beer led our performance, delivering high-twenties volume growth and estimated to have gained share of the segment. In Beyond Beer, our portfolio gained share and grew volumes by low-twenties. China: Top- and bottom-line declined, impacted by volume performance in a soft industry Operating performance: Commercial highlights: Beer industry volumes are estimated to have declined by mid-single digits in 2Q26, reflecting adverse weather and softness in the on-premise channel. Our market share trend is estimated to have improved sequentially, supported by a return to growth in our super premium and core plus brands in the second quarter. Investment in our megabrands and innovations strengthened our portfolio brand power in the quarter. We remain focused on improving execution and expanding our in‑home channel presence to rebuild momentum and better position our business for ongoing channel shifts in the industry. Highlights from our other markets Canada: Revenue grew by low-single digits in 2Q26 with mid-single digit revenue per hl growth driven by revenue management and positive brand mix. Our portfolio was estimated to be the #1 share gainer in both beer and Beyond Beer, while volumes declined by low-single digits amid a soft industry. Our beer performance was led by Michelob Ultra and Busch, which were the top two volume share gainers in the industry. Beyond Beer growth was led by Cutwater and Mike’s Hard Lemonade, two of the top four share gainers in the category. Peru: Volumes grew by high-single digits in 2Q26 with our portfolio estimated to have gained share of total alcohol. Performance was led by our mainstream beer brands which grew volumes by mid-single digits, and our Beyond Beer portfolio, which grew volumes in the triple-digits. Revenue grew by high-single digits with low-single digit revenue per hl growth. Ecuador: Volumes grew by mid-twenties in 2Q26 to reach a record high for the second quarter, driven by estimated market share gains and a strong industry in an improved consumer environment. Performance was led by our above core beer portfolio, which grew volumes by strong double digits. Revenue grew by high-twenties with low-single digit revenue per hl growth. Argentina: Beer volumes grew by low-single digits in 2Q26, estimated to have outperformed an improved industry. Total volumes declined by low-single digits, impacted by a soft non-beer industry. Revenue grew by mid-teens, driven by revenue management. Africa excluding South Africa: In 2Q26, Nigeria total volumes and revenue declined by low-single digits, impacted by a soft consumer environment.In our other markets in Africa, revenue grew in aggregate by high-single digits and volumes by mid-single digits. South Korea: Volume increased by low-teens in 2Q26 cycling an easier comparable due to shipment phasing ahead of our April 2025 price increase. Revenue grew by high-single digits, with a low-single digit revenue per hl decline driven by negative packaging mix. We estimate that we continued to gain market share in both the on-premise and in-home channels. Consolidated Income Statement Non-underlying items above EBIT & Non-underlying share of results of associates Normalized EBIT excludes negative non-underlying items of 42 million USD in 2Q26 and positive non-underlying items of 14 million USD in HY26. Net finance income/(expense) Non-underlying net finance income/(expense) Non-underlying net finance income includes mark-to-market gains on derivative instruments entered into in order to hedge our share-based payment programs and shares issued in relation to the combinations with Grupo Modelo and SAB. The number of shares covered by the hedging of our share-based payment program, the deferred share instrument and the restricted shares are shown below, together with the opening and closing share prices. Income tax expense The HY26 and HY25 effective tax rates were positively impacted by non-taxable gains from derivatives related to the hedging of share-based payment programs and the hedging of the shares issued in a transaction related to the combinations with Grupo Modelo and SAB. The increase in Normalized ETR in HY26 compared to HY25 was primarily due to negative country mix. Underlying EPS Reconciliation of IFRS and Non-IFRS Financial Measures Profit attributable to equity holders and Underlying Profit Basic and Underlying EPS Profit attributable to equity holders and Normalized EBITDA Normalized EBITDA, Normalized EBIT and Underlying Profit are non-IFRS financial measures used by AB InBev to reflect the company’s underlying performance. Underlying EPS and constant currency Underlying EPS are non-IFRS financial measures that AB InBev believes are useful to investors because they facilitate comparisons of EPS from period to period. Normalized EBITDA is calculated by adjusting profit attributable to equity holders of AB InBev to exclude: (i) non-controlling interest; (ii) income tax expense; (iii) share of results of associates; (iv) non-underlying share of results of associates; (v) net finance income or cost; (vi) non-underlying net finance income or cost; (vii) non-underlying items above EBIT; and (viii) depreciation, amortization and impairment. Underlying Profit is calculated by adjusting profit attributable to equity holders of AB InBev to exclude: (i) non-underlying items and (ii) hyperinflation impacts. Underlying EPS is calculated as Underlying Profit divided by the weighted average number of ordinary and restricted shares. Constant currency Underlying EPS is calculated as Underlying EPS excluding the effects of foreign currency translation by translating current period figures using the exchange rates from the same period in the prior year. Normalized EBITDA, Normalized EBIT and Underlying Profit are not accounting measures under IFRS and should not be considered as an alternative to profit attributable to equity holders as a measure of operational performance, or an alternative to cash flow as a measure of liquidity. Underlying EPS and constant currency Underlying EPS are not accounting measures under IFRS and should not be considered as alternatives to earnings per share as a measure of operating performance on a per share basis. These non-IFRS financial measures do not have a standard calculation method and AB InBev’s definition of Normalized EBITDA, Normalized EBIT, Underlying Profit, Underlying EPS and constant currency Underlying EPS may not be comparable to that of other companies. Cash Flows and Financial position Our free cash flow (defined as cash flow from operating activities less net capex) increased by 2 526 million USD to reach 3 881 million USD in HY26. Our cash and cash equivalents decreased by (4 071) million USD in HY26, compared to a decrease of (4 438) million USD in HY25, with the following movements: Our cash flow from operating activities reached 5 241 million USD in HY26 compared to 2 704 million USD in HY25. The increase was driven by increased profit of the period and changes in working capital for HY26 compared to HY25. Changes in working capital in the first half of 2026 and 2025 reflect higher working capital levels at the end of June than at year-end as a result of seasonality. Our cash outflow from investing activities was 1 807 million USD in HY26 compared to a cash outflow of 1 306 million USD in HY25. The increase in the cash outflow was mainly due to the acquisition of an 85% controlling stake in BeatBox, a ready-to-drink alcohol beverage business in the United States. Out of the total HY26 capital expenditures, approximately 25% was used to improve the company’s production facilities while 60% was used for logistics and commercial investments and 15% was used for the purchase of hardware and software and improving administrative capabilities. Our cash outflow from financing activities amounted to 7 505 million USD in HY26, as compared to a cash outflow of 5 837 million USD in HY25. The increase in the cash outflow versus HY25 was primarily driven by the completion of the reacquisition of the 49.9% minority stake in our US-based metal container plants for 2.9 billion USD. Our net debt increased to 64.2 billion USD as of 30 June 2026 from 60.9 billion USD as of 31 December 2025. Our net debt to normalized EBITDA ratio was 2.86x as of 30 June 2026. Our optimal capital structure is a net debt to normalized EBITDA ratio of around 2x. We continue to proactively manage our debt portfolio. 98% of our bond portfolio holds a fixed-interest rate, 52% is denominated in currencies other than USD and maturities are well-distributed across the next several years. As of 30 June 2026, we had total liquidity of 18.1 billion USD, which consisted of 10.1 billion USD available under committed long-term credit facilities and 8.0 billion USD of cash, cash equivalents and short-term investments in debt securities less bank overdrafts. Notes To facilitate the understanding of AB InBev’s underlying performance, the analyses of growth, including all comments in this press release, unless otherwise indicated, are based on organic growth and normalized numbers. In other words, financials are analyzed eliminating the impact of changes in currencies on translation of foreign operations, and scope changes. Since 1Q24, the definition of organic revenue growth has been amended to cap the price growth in Argentina to a maximum of 2% per month (26.8% year-over-year). Corresponding adjustments are made to all income statement related items in the organic growth calculations through scope changes. Scope changes also represent the impact of acquisitions and divestitures, the start or termination of activities or the transfer of activities between segments, curtailment gains and losses and year over year changes in accounting estimates and other assumptions that management does not consider as part of the underlying performance of the business. Beer volumes and revenue include primarily beer, no-alcohol beer, other malt-based alcohol beverages and spirits-based beverages. Non-beer volumes and revenue include primarily carbonated soft drinks and energy drinks. In addition, beer and non-beer categories include not only brands that we own or license, but also third-party brands that we brew and sell, and third-party products that we sell through our distribution network. The organic growth of our global brands, Budweiser, Stella Artois, and Corona excludes exports to Australia for which a perpetual license was granted to a third party upon disposal of the Australia operations in 2020. All references per hectoliter (per hl) exclude US non-beverage activities. Whenever presented in this document, all performance measures (EBITDA, EBIT, profit, tax rate, EPS) are presented on a "normalized" basis, which means they are presented before non-underlying items. Non-underlying items are either income or expenses which do not occur regularly as part of the normal activities of the Company. They are presented separately because they are important for the understanding of the underlying sustainable performance of the Company due to their size or nature. Normalized measures are additional measures used by management and should not replace the measures determined in accordance with IFRS as an indicator of the Company’s performance. Effective 1 January 2026, Cervecería Bucanero S.A., a Cuban company in which we indirectly hold a 50% equity interest through our subsidiary Ambev, is accounted for as an associate using the equity method of accounting. The impact of this change in presentation is reflected as a scope change. We are reporting the results from Argentina applying hyperinflation accounting since 3Q18. The IFRS rules (IAS 29) require us to restate the year-to-date results for the change in the general purchasing power of the local currency, using official indices before converting the local amounts at the closing rate of the period. In 2Q26, we reported a negative impact from hyperinflation accounting on the profit attributable to equity holders of AB InBev of 7 million USD. The impact in 2Q26 Basic EPS was less than 0.01 USD. Values in the figures and annexes may not add up, due to rounding. 2Q26 and HY26 EPS is based upon a weighted average of 1 976 million shares compared to a weighted average of 1 989 million shares for 2Q25 and HY25. Legal disclaimer This release contains "forward-looking statements". These statements are based on the current expectations and views of future events and developments of the management of AB InBev and are naturally subject to uncertainty and changes in circumstances. The forward-looking statements contained in this release include statements other than historical facts and include statements typically containing words such as "will", "may", "should", "believe", "intends", "expects", "anticipates", "targets", "ambition", "estimates", "likely", "foresees" and words of similar import. All statements other than statements of historical facts are forward-looking statements. You should not place undue reliance on these forward-looking statements, which reflect the current views of the management of AB InBev, are subject to numerous risks and uncertainties about AB InBev and are dependent on many factors, some of which are outside of AB InBev’s control. There are important factors, risks and uncertainties that could cause actual outcomes and results to be materially different, including, but not limited to the risks and uncertainties relating to AB InBev that are described under Item 3.D of AB InBev’s Annual Report on Form 20-F filed with the SEC on 3 March 2026. Many of these risks and uncertainties are, and will be, exacerbated by any further worsening of the global business and economic environment, including as a result of foreign currency exchange rate fluctuations and ongoing geopolitical instability. Other unknown or unpredictable factors could cause actual results to differ materially from those in the forward-looking statements. The forward-looking statements should be read in conjunction with the other cautionary statements that are included elsewhere, including AB InBev’s most recent Form 20-F and other reports furnished on Form 6-K, and any other documents that AB InBev has made public. Any forward-looking statements made in this communication are qualified in their entirety by these cautionary statements and there can be no assurance that the actual results or developments anticipated by AB InBev will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, AB InBev or its business or operations. Except as required by law, AB InBev undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The half year 2026 (HY26) financial data set out in Figure 1 (except for the volume information), Figures 3 to 6, 8, 10, 12 and 13 of this press release have been extracted from the group’s unaudited condensed consolidated interim financial statements as of and for the six-month period ended 30 June 2026, which have been reviewed by our statutory auditors PwC Bedrijfsrevisoren BV/Reviseurs d’Entreprises SRL in accordance with the standards of the Public Company Accounting Oversight Board (United States). The second quarter 2026 (2Q26) financial data set out in Figure 1 (except for the volume information), Figures 3 to 6, 8, 10, 12 and 13, and the financial data included in Figures 7, 9, 11 and 14 of this press release have been extracted from the underlying accounting records as of and for the six-month period ended 30 June 2026. The interim sustainability data set out on page 3 are from unaudited internal databases. These have been calculated on a consistent basis with the group’s consolidated sustainability statements as of and for the twelve months ended 31 December 2025, for which limited assurance was provided by our statutory auditors PwC Bedrijfsrevisoren BV/Reviseurs d’Entreprises SRL in accordance with CSRD. References in this document to materials on our websites, such as www.ab-inbev.com, are included as an aid to their location and are not incorporated by reference into this document. Conference call and webcast Investor Conference call and webcast on Thursday, 30 July 2026:3.00pm Brussels / 2.00pm London / 9.00am New York Registration details:Webcast (listen-only mode):AB InBev 2Q26 Results Webcast To join by phone, please use one of the following two phone numbers:Toll-Free: +1-877-407-8029Toll: +1-201-689-8029 About AB InBev Anheuser-Busch InBev (AB InBev) is a publicly traded company (Euronext: ABI) based in Leuven, Belgium, with secondary listings on the Mexico (MEXBOL: ANB) and South Africa (JSE: ANH) stock exchanges and with American Depositary Receipts on the New York Stock Exchange (NYSE: BUD). As a company, we dream big to create a future with more cheers. We are always looking to serve up new ways to meet life’s moments, move our industry forward and make a meaningful impact in the world. We are committed to building great brands that stand the test of time and to brewing the best beers using the finest ingredients. Beer is the drink for moderation, and for over a century, AB InBev has championed responsible drinking. We are committed to providing our consumers with Balanced Choices to enjoy on any occasion. We also invest in marketing that aims to reinforce positive behaviors, and we work with communities, customers, and partners to promote responsible consumption through evidence-based initiatives. Our diverse portfolio of well over 400 beer brands includes global brands Budweiser®, Corona®, Stella Artois® and Michelob Ultra®; multi-country brands Beck’s®, Hoegaarden® and Leffe®; and local champions such as Aguila®, Antarctica®, Bud Light®, Brahma®, Cass®, Castle®, Castle Lite®, Cristal®, Harbin®, Jupiler®, Modelo Especial®, Quilmes®, Victoria®, Sedrin®, and Skol®. Our brewing heritage dates back more than 600 years, spanning continents and generations. From our European roots at the Den Hoorn brewery in Leuven, Belgium. To the pioneering spirit of the Anheuser & Co brewery in St. Louis, US. To the creation of the Castle Brewery in South Africa during the Johannesburg gold rush. To Bohemia, the first brewery in Brazil. Geographically diversified with a balanced exposure to developed and developing markets, we leverage the collective strengths of approximately 137 000 colleagues based in more than 40 countries worldwide. For 2025, AB InBev’s reported revenue was 59.3 billion USD (excluding JVs and associates). Annex 1: Segment reporting (2Q) Annex 2: Segment reporting (HY) Annex 3: Consolidated statement of financial position Annex 4: Consolidated statement of cash flows View source version on businesswire.com: https://www.businesswire.com/news/home/20260729033132/en/ Contacts InvestorsShaun Fullalove E-mail: [email protected] Ekaterina Baillie E-mail: [email protected] Patrick Ryan E-mail: [email protected] MediaMedia RelationsE-mail: [email protected]

Anheuser-Busch Inbev (BUD) reported $16.66 billion in revenue for the quarter ended June 2026, representing a year-over-year increase of 11%. EPS of $1.21 for the same period compares to $0.98 a year ago. The reported revenue represents a surprise of +2.26% over the Zacks Consensus Estimate of $16.29 billion. With the consensus EPS estimate being $1.09, the EPS surprise was +11.01%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health. Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance. Here is how Anheuser-Busch Inbev performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Volume in Hectoliters - Middle America: 38,822.00 KhL versus the three-analyst average estimate of 39,102.03 KhL. Volume in Hectoliters - South America: 34,199.00 KhL compared to the 36,814.15 KhL average estimate based on three analysts. Volume in Hectoliters - EMEA: 24,172.00 KhL versus 23,999.03 KhL estimated by three analysts on average. AB InBev Worldwide - Total Volume: 143,347.00 KhL versus 144,023.50 KhL estimated by three analysts on average. Volume in Hectoliters - Global Export and Holding Companies: 62.00 KhL compared to the 74.17 KhL average estimate based on three analysts. Volume in Hectoliters - North America: 22,376.00 KhL versus 21,750.32 KhL estimated by three analysts on average. Revenue- North America: $3.84 billion versus the three-analyst average estimate of $3.9 billion. The reported number represents a year-over-year change of 0%. Revenue- Middle Americas: $4.34 billion versus $4.88 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a 0% change. Revenue- Global Export & Holding Companies: $144 million compared to the $159.38 million average estimate based on three analysts. The reported number represents a change of 0% year over year. Revenue- EMEA: $2.49 billion compared to the $2.64 billion average estimate based on three analysts. The reported number represents a change of 0% year over year. Revenue- Asia Pacific: $1.66 billion compared to the $1.6 billion average estimate based on three analysts. The reported number represents a change of 0% year over year. Revenue- South America: $2.53 billion compared to the $3.12 billion average estimate based on three analysts. The reported number represents a change of 0% year over year. View all Key Company Metrics for Anheuser-Busch Inbev here>>> Shares of Anheuser-Busch Inbev have returned +5.8% over the past month versus the Zacks S&P 500 composite's -1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Anheuser-Busch InBev SA/NV (BUD) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Anheuser-Busch InBev SA/NV BUD, aka AB InBev, reported second-quarter 2026 results, wherein earnings per share and revenues missed the Zacks Consensus Estimate. Both top and bottom lines were flat year over year.BUD reported second-quarter 2026 underlying earnings of 98 cents per share, flat year over year. The figure missed the Zacks Consensus Estimate of $1.09 by 10.1%. Revenues of $15 billion were flat year over year and missed the consensus mark of $16.29 billion by 7.9%.Shares of this Zacks Rank #3 (Hold) company have gained 12.3% in the past three months compared with the industry’s 7.4% growth. Image Source: Zacks Investment Research On an organic basis, revenues increased 5.6% in the quarter. Revenue per hectoliter rose 4.2%, reflecting disciplined revenue management and a favorable mix from premiumization and Beyond Beer products.Total volumes increased 0.9% organically. Beer volumes rose 1.1%, while non-beer volumes declined 1.1%. The company recorded its highest-ever second-quarter volumes in Mexico, Colombia and Ecuador, while beer volumes in Brazil returned to growth.Combined revenues from AB InBev’s megabrands increased 6.2%. Corona revenues grew 17% outside its home market, while Stella Artois and Michelob Ultra advanced 19% and 21%, respectively, outside their domestic markets.The above-core beer portfolio generated 6.9% revenue growth. Corona delivered double-digit volume growth in 37 markets, while Michelob Ultra expanded across Latin America. About 40% of Michelob Ultra’s volume growth came from markets outside the United States. Anheuser-Busch InBev SA/NV price-consensus-eps-surprise-chart | Anheuser-Busch InBev SA/NV Quote No-alcohol beer revenues increased 27%, supporting growth in the company’s broader Balanced Choices portfolio. Revenues from low-carb, low-calorie, sugar-free, gluten-free and no-alcohol brands collectively rose 13%.Beyond Beer revenues jumped 44%, led by Flying Fish and Cutwater. Cutwater posted triple-digit revenue growth and was the second-largest brand contributor to AB InBev’s overall revenue growth in the quarter. Digitization remained a notable growth vector in the quarter. BEES was operating in 30 markets at the end of June, with 72% of revenues captured through B2B digital platforms. The platform processed $15 billion in gross merchandise value during the quarter, up 16% year over year.BEES Marketplace gross merchandise value climbed 50% to $1.2 billion from third-party products. The company’s direct-to-consumer platforms served 13 million active consumers and generated $165 million in revenues, representing 12% growth. Gross profit increased 7.5% organically, while the gross margin expanded 99 basis points (bps) to 57.5%. Normalized EBIT advanced 8% to $4.60 billion, with the normalized EBIT margin improving 58 bps to 27.6%.Normalized EBITDA rose 5.8% to $5.94 billion. The normalized EBITDA margin expanded 4 bps to 35.6%, as overhead discipline offset foreign-exchange pressures, and supported higher sales and marketing investments.Our model had anticipated a rise of 9.5% in normalized EBIT and 7.6% in normalized EBITDA for the second quarter. The free cash flow for the first half of 2026 increased by $2.53 billion to $3.88 billion. The cash flow from operating activities rose to $5.24 billion from $2.7 billion a year earlier, reflecting higher profit and improved working-capital movements.Net debt totaled $64.2 billion at the end of June. The net debt-to-normalized EBITDA ratio improved to 2.86 from 3.27 a year earlier. AB InBev also completed $1.9 billion of its $6-billion share repurchase program as of July 24. Management expects EBITDA growth of 4-8% in 2026, in line with its medium-term outlook. The projection reflects its current view of inflation and broader macroeconomic conditions.The company anticipates a normalized effective tax rate of 26-28% and net capital expenditure of $3.5-$4 billion. Net pension interest and accretion expenses are projected at $190-$220 million per quarter, while the average gross debt coupon is expected to be 4%. We have highlighted three better-ranked stocks from the Consumer Staples sector, namely The Vita Coco Company Inc. COCO, Primo Brands Corporation PRMB and Fomento Economico Mexicano FMX.Vita Coco develops, markets and distributes coconut water and other beverage products, led by the Vita Coco brand. The company currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for Vita Coco’s current financial-year sales and earnings is expected to rise 31.6% and 64.7%, respectively, from the year-ago reported figures. COCO delivered a trailing four-quarter earnings surprise of 21.9%, on average.Fomento Economico Mexicano, alias FEMSA, is a leading Latin American beverage and retail company that operates Coca-Cola bottling businesses, OXXO convenience stores, health and beauty outlets, fuel stations, and digital financial services across multiple countries. The company currently has a Zacks Rank #2 (Buy).The Zacks Consensus Estimate for FMX’s current financial-year sales and earnings indicates growth of 17.3% and 131% from the prior-year reported level. FMX delivered a trailing four-quarter negative earnings surprise of 0.2%, on average.Primo Brands is a leading North American branded beverage company focused on healthy hydration. The company currently carries a Zacks Rank #2.The Zacks Consensus Estimate for Primo Brands’ current financial-year sales indicates growth of 1.6% from the year-ago reported number. PRMB delivered an average earnings surprise of 1.4% in the trailing four quarters. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Anheuser-Busch InBev SA/NV (BUD) : Free Stock Analysis Report Vita Coco Company, Inc. (COCO) : Free Stock Analysis Report Fomento Economico Mexicano S.A.B. de C.V. (FMX) : Free Stock Analysis Report Primo Brands Corporation (PRMB) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

The upcoming report from Anheuser-Busch Inbev (BUD) is expected to reveal quarterly earnings of $1.09 per share, indicating an increase of 11.2% compared to the year-ago period. Analysts forecast revenues of $16.29 billion, representing an increase of 8.6% year over year. Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe. Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock. While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights. With that in mind, let's delve into the average projections of some Anheuser-Busch Inbev metrics that are commonly tracked and projected by analysts on Wall Street. Based on the collective assessment of analysts, 'Revenue- Global Export & Holding Companies' should arrive at $159.38 million. The estimate points to a change of +10.7% from the year-ago quarter. The collective assessment of analysts points to an estimated 'Revenue- Middle Americas' of $4.88 billion. The estimate indicates a year-over-year change of +12.4%. Analysts forecast 'Revenue- North America' to reach $3.90 billion. The estimate suggests a change of +1.4% year over year. The combined assessment of analysts suggests that 'Revenue- Asia Pacific' will likely reach $1.60 billion. The estimate indicates a year-over-year change of -3.6%. Analysts' assessment points toward 'Revenue- EMEA' reaching $2.64 billion. The estimate indicates a year-over-year change of +6.1%. The average prediction of analysts places 'Volume in Hectoliters - Middle America' at 39102 thousands of hectoliters. The estimate is in contrast to the year-ago figure of 38822 thousands of hectoliters. The consensus among analysts is that 'Volume in Hectoliters - South America' will reach 36814 thousands of hectoliters. The estimate compares to the year-ago value of 34199 thousands of hectoliters. Analysts expect 'Volume in Hectoliters - EMEA' to come in at 23999 thousands of hectoliters. Compared to the present estimate, the company reported 24172 thousands of hectoliters in the same quarter last year. It is projected by analysts that the 'AB InBev Worldwide - Total Volume' will reach 144024 thousands of hectoliters. Compared to the present estimate, the company reported 143347 thousands of hectoliters in the same quarter last year. According to the collective judgment of analysts, 'Volume in Hectoliters - Global Export and Holding Companies' should come in at 74 thousands of hectoliters. Compared to the present estimate, the company reported 62 thousands of hectoliters in the same quarter last year. Analysts predict that the 'Volume in Hectoliters - North America' will reach 21750 thousands of hectoliters. The estimate compares to the year-ago value of 22376 thousands of hectoliters. The consensus estimate for 'Volume in Hectoliters - Asia Pacific' stands at 22284 thousands of hectoliters. Compared to the current estimate, the company reported 23716 thousands of hectoliters in the same quarter of the previous year. View all Key Company Metrics for Anheuser-Busch Inbev here>>> Shares of Anheuser-Busch Inbev have demonstrated returns of -4% over the past month compared to the Zacks S&P 500 composite's +0.8% change. With a Zacks Rank #3 (Hold), BUD is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> . Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Anheuser-Busch InBev SA/NV (BUD) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Anheuser-Busch InBev SA/NV BUD, also known as AB InBev, is slated to release second-quarter 2026 earnings on July 30, before the opening bell. The leading alcohol beverage company is likely to register year-over-year growth in its top and bottom lines when it reports quarterly numbers.The Zacks Consensus Estimate for AB InBev’s quarterly revenues is pegged at $16.3 billion, indicating 8.6% growth from the year-ago quarter’s reported number. For second-quarter earnings, the consensus mark is pegged at $1.09 per share, suggesting 11.2% growth from the prior-year reported figure. The consensus mark has been unchanged in the past 30 days.In the last reported quarter, the company’s earnings per share beat the Zacks Consensus Estimate by 7.8%. It has a trailing four-quarter average earnings surprise of 4.6%. Anheuser-Busch InBev SA/NV price-eps-surprise | Anheuser-Busch InBev SA/NV Quote AB InBev’s second-quarter 2026 results are expected to have benefited from disciplined revenue management, continued premiumization and strong brand momentum. The company’s focus on increasing revenue per hectoliter through pricing actions and a favorable product mix, supported by its portfolio of mega brands, is likely to have driven top-line growth. Sustained investments in marketing and brand building, coupled with major global events, are also expected to have strengthened consumer engagement and supported sales in the quarter.The company’s premium and super-premium portfolio is anticipated to have remained a key growth catalyst. Strong demand for brands such as Corona and Michelob Ultra, along with continued expansion in higher-margin categories, is likely to have supported an improved price mix. The ongoing shift toward premium offerings, complemented by innovation-led product launches, may have helped sustain revenue growth despite mixed volume trends across certain regions.AB InBev’s expanding presence in the Beyond Beer and non-alcoholic beverage categories is also likely to have contributed to second-quarter performance. These segments continue to gain traction amid evolving consumer preferences and increased demand for differentiated beverage options. Management’s efforts to scale these faster-growing categories are expected to have generated incremental revenues while strengthening the company’s long-term growth prospects.On the cost front, productivity initiatives and an efficient operating model are expected to have supported profitability. Continued cost-saving measures and operational efficiencies may have partly offset pressures from foreign exchange volatility and elevated input costs. However, increased sales and marketing spending, particularly on global events and brand activations, could have constrained margin expansion during the quarter.Meanwhile, persistent macroeconomic pressures and region-specific challenges are likely to have weighed on the company’s performance. Volume softness in select markets remains concerning, particularly in China, where inventory adjustments and channel realignment may have pressured revenues. Currency fluctuations and shifting consumer demand patterns could also have affected near-term performance, especially in markets facing uncertain economic conditions. Our proven model conclusively predicts an earnings beat for AB InBev this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks before they are reported with our Earnings ESP Filter.AB InBev presently has an Earnings ESP of +1.60% and a Zacks Rank #3. The stock has a forward 12-month price-to-earnings of 17.53X compared with the five-year high of 22.58X and the Beverages - Alcohol industry’s average of 15.53X. Image Source: Zacks Investment Research The recent market movements show that BUD shares have risen 25.6% in the year-to-date period compared with the industry's 15.9% return. The stock has also underperformed the Zacks Consumer Staples sector and the S&P 500’s growth of 9.4% and 9.2%, respectively. Image Source: Zacks Investment Research Here are some other companies that, according to our model, also have the right combination of elements to beat on earnings this reporting cycle.Fomento Economico Mexicano FMX currently has an Earnings ESP of +37.42% and sports a Zacks Rank #1. The company is likely to register growth in the top and bottom lines when it reports second-quarter 2026 numbers. The consensus mark for revenues is pegged at $12.9 billion, which indicates a rise of 19.3% from the figure reported in the year-ago quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for FMX’s quarterly earnings per share of 82 cents implies a surge of 95.2% from the year-ago quarter’s actual. The consensus mark has moved down 10.9% in the past 30 days. FMX has a trailing four-quarter negative earnings surprise of 17%, on average.Monster Beverage Corporation MNST currently has an Earnings ESP of +2.61% and a Zacks Rank #3. The company is likely to register growth in the top and bottom lines when it reports second-quarter 2026 numbers. The consensus mark for revenues is pegged at $2.4 billion, which indicates growth of 14.5% from the figure reported in the year-ago quarter.The Zacks Consensus Estimate for Monster Beverage’s quarterly earnings per share of 59 cents implies a rise of 13.5% from the year-ago quarter’s actual. The consensus mark has been unchanged in the past 30 days. MNST has a trailing four-quarter earnings surprise of 9.6%, on average.Mondelez International MDLZ currently has an Earnings ESP of +0.97% and a Zacks Rank #3. The company is likely to register an increase in the top line when it reports second-quarter 2026 numbers. The Zacks Consensus Estimate for MDLZ’s quarterly EPS is pegged at 67 cents, down 8.2% from the year-ago period. The consensus mark has been unchanged in the past 30 days.The consensus estimate for Mondelez International’s quarterly revenues is pegged at $9.2 billion, which implies an increase of 2.5% from the prior-year quarter. MDLZ has a trailing four-quarter earnings surprise of 5.4%, on average. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Anheuser-Busch InBev SA/NV (BUD) : Free Stock Analysis Report Fomento Economico Mexicano S.A.B. de C.V. (FMX) : Free Stock Analysis Report Monster Beverage Corporation (MNST) : Free Stock Analysis Report Mondelez International, Inc. (MDLZ) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research