Anheuser-Busch InBev reports volume in the third quarter grew 3.4%, with own beer volumes up by 2.8% and non-beer volumes up by 7.8% and total revenue gained 7.9% to $14/3 billion. Sales of the company’s three global brands, Budweiser, Stella Artois and Corona, increased 5.0% globally and 9.3% outside their respective home markets.
The company’s profit, however, plunged in the third quarter to $695 million from $1.28 billion. The company didn’t address the plunge in net profit, choosing instead to focus on its sales strategy and use of technology. It noted that its earnings before interest, taxes, depreciation and amortization rose 3% year over year. CEO Michel Doukeris said the company now projects 2021 EBITDA growth to a range of 10% to 12%. It previously had projected EBITDA growth at aroound 8%.
In the U.S., both revenue and EBITDA grew mid-single digits versus 2019. Compared to the third quarter of 2020, total revenue declined 0.8%, with sales-to-wholesalers (STWs) declining 4.7% and revenue per hl growing by 4.1%. Sales-to-retailers (STRs) declined 4.7%, driven by a lower industry, segment shift and supply chain disruptions resulting in out-of-stocks. EBITDA decreased by 2.6%.
Michelob Ultra once again outperformed the industry in the U.S., maintaining its position as the second largest brand by volume and retail sales, according to IRI. ABS’s Seltzer portfolio continued gaining share of segment, growing 1.8 times the segment year-to-date. The canned cocktail brand Cutwater once again grew by triple-digits this quarter.