Anheuser-Busch InBev SA NV (BUD) Stock Takes a Dip on Profit Miss

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Anheuser-Busch InBev SA NV (ADR) (NYSE:BUD) stock was down following poor results for its third quarter of 2016 earnings report.

Anheuser-Busch InBev SA NV, BUD Stock

Anheuser-Busch InBev SA NV reported earnings per share of 83 cents for the third quarter of 2016. This is down from the $1.02 reported during the same time last year. It also failed to reach the earnings per share of $1.08 that Wall Street was expecting for the third quarter in 2016.

Revenue reported by Anheuser-Busch InBev SA NV in the third quarter of 2016 was $11.11 billion. This is an almost 3% drop from its revenue of $11.38 billion from the third quarter of 2015. It also didn’t meet the $11.50 billion in revenue that analysts were looking for in the quarter.

Anheuser-Busch InBev SA NV reported profit of $1.36 billion for the third quarter of 2016. The brewing company reported profit of $1.67 billion during the third quarter of the year prior.

Anheuser-Busch InBev SA NV’s EBITDA for the third quarter of 2016 as down 2% from the same time last year. BUD attributed this to “very weak” sales in Brazil. The company’s revenue in the country was down 6.8%. Beer volume for the quarter also dropped by 4.1% due to the current recession in Brazil.

Anheuser-Busch InBev SA NV also updated its outlook for 2016. It said it now expects net revenue per hectoliter growth to be in line with inflation. Its previous guidance had net revenue per hectoliter growth being above inflation. It blamed the poor results in Brazil for the guidance change in net revenue per hectoliter growth.

BUD stock was down 3% as of Noon Friday.

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Article printed from InvestorPlace Media, https://investorplace.com/2016/10/anheuser-busch-inbev-sa-nv-bud-stock/.

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