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Beer shares, including Anheuser-Busch Inbev SA (NYSE:BUD), Ambev S.A. (NYSE:ABEV) and Molson Coors Beverage Company (NYSE:TAP), are trading lower Monday following a weak earnings report from Heineken Holding N.V. (OTC:HKHHF)
What Happened: Heineken its half-year results, showing revenue of €17.82 billion ($19.29 billion) and operating profit of €1.54 billion. Despite achieving organic growth in beer volume and Heineken volume, Heineken’s net profit was impacted by non-cash impairments, leading to a net loss of €48 million. The outlook for the full year has been updated, with operating profit expected to grow organically by 4% to 8%.
Upcoming Earnings:
Why It Matters: The weak performance of Heineken has had a ripple effect across the beer industry. With upcoming earnings reports from other major beer companies, the market is cautious about the potential for similar disappointing results.
Price Action:
Photo: Engin Akyurt from Pixabay.