Anheuser-Busch Inbev Exceeds Q2 Earnings Expectations with $1.68 Billion Revenue, Adjusted Earnings of 98 Cents Per Share

Anheuser-Busch Inbev reported Q2 earnings of $1.68 billion, exceeding analyst expectations. The brewer's net income was 84 cents per share, and earnings adjusted for non-recurring costs were 98 cents per share. Revenue was $15 billion, missing street forecasts. The stock has climbed 33% this year and 12% in the last 12 months.

Anheuser-Busch InBev (AB InBev) reported its Q2 2025 earnings on July 30, 2025, revealing strong financial performance that surpassed analyst expectations. The brewer's net income was 84 cents per share, while earnings adjusted for non-recurring costs were 98 cents per share. Revenue for the quarter came in at $15 billion, slightly below street forecasts [1].

AB InBev's CEO, Michel Doukeris, highlighted the resilience of the beer category and the continued momentum of their megabrands, which drove another quarter of profitable growth. The company reported an EBITDA increase of 6.5% and Underlying EPS growth of 8.7% in Q2 2025 [1].

Revenue increased by 3.0% in Q2 2025, with revenue per hl growth of 4.9%. This growth was driven by a 5.6% increase in combined revenues of their megabrands, led by Corona, which grew by 7.7% outside of its home market [1]. The company also saw a 33% increase in revenue of their no-alcohol beer portfolio in Q2 2025 [1].

Volumes declined by 1.9% in Q2 2025, with beer volumes down by 2.2% and non-beer volumes up by 0.3%. However, the company reported that volumes declined by 2.0% in HY25, with beer volumes down by 2.3% and non-beer volumes flat [1].

Normalized EBITDA increased by 6.5% to $5.301 billion in Q2 2025, with a margin expansion of 116bps to 35.3%. Underlying Profit was $1.950 billion in Q2 2025, compared to $1.811 billion in Q2 2024 [1].

The stock has climbed 33% this year and 12% in the last 12 months, reflecting investor confidence in the company's performance [1].

References:
[1] https://www.businesswire.com/news/home/20250730542419/en/AB-InBev-Reports-Second-Quarter-2025-Results