AB InBev Q3 revenue jumps 9.1% to $16.51 billion
Key points
- Anheuser-Busch InBev (NYSE:BUD) reported third-quarter 2026 revenue of $16.51 billion, up 9.1% as reported, while underlying earnings per share rose 22.4% to $1.21.
- Corona revenue increased 20% outside its home market, while no-alcohol beer revenue rose 35%; total beverage volumes increased 0.4% organically.
- AB InBev approved an interim dividend of €0.40 per share and maintained its full-year EBITDA growth forecast of 4%–8%.
Anheuser-Busch InBev (NYSE:BUD) reported third-quarter 2026 revenue of $16.51 billion, up 9.1% as reported, beating analysts' $16.24 billion estimate as underlying earnings per share increased 22.4% to $1.21.
Revenue grew 4.9% organically, while underlying profit rose to $2.40 billion from $1.97 billion a year earlier and normalized EBITDA increased 3.9% organically to $5.96 billion.
Total beverage volumes increased 0.4% organically, with beer volumes declining 0.1% and non-beer and alternative beverage volumes rising 4%; the EBITDA margin narrowed by 34 basis points to 36.1%.
Corona revenue grew 20% outside its home market, no-alcohol beer revenue increased 35%, and BEES Marketplace gross merchandise value rose 12% to $15.9 billion, while China volumes fell 16.8%.
AB InBev approved an interim dividend of €0.40 per share, completed $2.60 billion of its ongoing $6 billion share buyback programme, and reaffirmed full-year 2026 EBITDA growth guidance of 4%–8% and net capital expenditure of $3.50 billion–$4 billion.
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