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Anheuser-Busch InBev SA/NV (NYSE:BUD) reported second-quarter 2024 revenue growth of 2.7% organically year-over-year to $15.333 billion, beating the analyst consensus estimate of $13.561 billion.
On an Organic basis, total volumes declined by -0.8%, with own beer volumes down by 1.3% and non-beer volumes up by 3.4%. Revenue per hl grew 3.6%.
The company stated that 3.3% rise in total revenues of megabrands was driven by Corona, which saw a 5.6% growth outside its domestic market in the quarter.
Gross profit expanded 7% organically to $8.567 billion, and gross margin expanded 224 bps YoY to 55.9%.
Normalized EBITDA for the quarter grew 10.2% organically to $5.302 billion, with the margin expanding 236 basis points to 34.6%.
The underlying profit for the quarter was $1.811 billion compared to $1.452 billion last year. Underlying EPS of $0.90 beat the consensus estimate of $0.87.
Related: BUD On The Rocks? Stock Flirts With Death Cross Ahead Of Q2 Earnings
“Our global momentum continued this quarter. The strength of our diversified footprint and consumer demand for our megabrands delivered another quarter of broad-based top- and bottom-line growth," commented CEO Michel Doukeris.
BUD’s net debt to normalized EBITDA ratio was 3.42x at June-end compared to 3.70x at June-end 2023 and 3.38x at December-end 2023.
Also Read: Beer Companies Shares Are trading Lower Today: What You Need To Know
For the six months ended June 30, the company invested $5.3 billion in capex and sales and marketing while delivering a free cash flow of ~$0.9 billion, a $1.4 billion improvement versus a year ago.
Outlook: Anheuser-Busch InBev expects its 2024 EBITDA to grow in line with its medium-term outlook of 4% – 8%. It expects FY24 capital expenditures of $4 billion-$4.5 billion.
Price Action: BUD shares are trading higher by 2.37% at $60.91 at the last check Thursday.
Photo: Engin Akyurt from Pixabay.
Posted In: BUD
