Overview
- AB InBev reported third-quarter results on Oct. 29, 2026 with adjusted (underlying) EPS of $1.21, a 22% year‑over‑year rise, and revenue of $16.51 billion that beat Street forecasts.
- The company credited higher revenue per hectoliter from pricing and a shift into premium and non‑alcoholic products for the outperformance and said a lighter interest bill also helped earnings.
- Core operating performance was more muted as normalized EBITDA grew 3.9% organically and margins narrowed because the company increased marketing spend and faced higher commodity costs.
- Volume trends were uneven: total volumes rose 0.4% organically, beer volumes slipped 0.1%, revenue per hectoliter rose 4.2%, and management highlighted continued weakness in China.
- Management raised the interim dividend to €0.40 a share and resumed buybacks, a move that gives shareholders cash now but leaves investors watching whether price‑led growth can translate into stronger, sustained organic performance.