What is the revenue and EPS growth rate for Anheuser-Busch InBev year over year?

What guidance did Anheuser-Busch InBev's management provide for the next earnings period?

What is Anheuser-Busch InBev's gross profit margin?

What is Anheuser-Busch InBev's latest dividend and current dividend yield?

What is the market's earnings forecast for Anheuser-Busch InBev next quarter?

What were the key takeaways from Anheuser-Busch InBev’s earnings call?

What were the key takeaways from Anheuser-Busch InBev's earnings call?

What factors drove the changes in Anheuser-Busch InBev's revenue and profit?

- **Shareholder Returns**: $6 billion buyback program and interim dividend signal confidence in long-term growth.
- **Profitability Resilience**: 88bps margin expansion to 33.3% despite 1.9% volume decline.
- **Beyond Beer Breakthrough**: Cutwater spirits brand ranks #10 in U.S. with triple-digit growth, Beyond Beer segment now 2% of portfolio.
- **China Recovery**: 1/3 of Q3 volume decline from destocking resolved, new innovations launching Q4.
- **2026 Catalysts**: FIFA World Cup in North America poised to drive category growth.

**【CEO Opening Remarks】**
- Q3 revenue growth of 0.9% driven by 4.8% revenue per hectoliter increase, despite 1.9% volume decline due to weather and macro challenges in Latin America.
- EBITDA margin expanded 88bps to 33.3%, with 3.3% EBITDA growth.
- $6 billion share buyback program announced, alongside $2 billion bond redemption and interim dividend of EUR 0.15.
- Michelob Ultra gains 16% share in top U.S. state, Cutwater spirits brand ranks #10 in U.S. with triple-digit revenue growth.
- BEES marketplace GMV reaches $13.3 billion, DTC platforms generate $138 million in revenue.

**【CFO Financial Commentary】**
- Underlying EPS of $0.99 (+1% YoY), driven by EBITDA growth offset by FX hedging costs.
- 2025 EBITDA guidance of 4-8% maintained, with confidence in long-term margin expansion.
- $6 billion buyback program to be executed over 24 months, signaling capital allocation flexibility.
- Net debt/EBITDA ratio improved to 2.0x, below 2.5x target range.

**【Q&A Highlights】**
- **China Performance**: Q3 volumes down 15.2% due to destocking, but 1/3 of decline from inventory adjustments now resolved. New innovations (BUD Magnum, 1L cans) launching Q4 to rebuild momentum.
- **Beyond Beer Growth**: Cutwater spirits brand now #10 in U.S., Beyond Beer segment growing 27% with 2% of total portfolio volume.
- **FX Impact**: 2026 input costs hedged 12 months ahead, U.S. dollar strength expected to moderate.
- **2026 Outlook**: FIFA World Cup in North America expected to boost beer category, with 0.2-0.25% volume uplift potential.

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