Anheuser-Busch InBev stock faces China drag after Q3 growth

Published on 10/30/2026 at 14:54 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Anheuser-Busch InBev stock reflects stronger third-quarter revenue and earnings. China and higher investment costs weighed on operating margins.

Q3 growth meets regional pressure

Organic revenue advanced as premium brands and Beyond Beer supported the quarter.
China remained the main weakness, while management reaffirmed the 2026 outlook.
The higher interim dividend and ongoing buyback strengthen the capital-return profile.

Anheuser-Busch InBev, BE0974293251, Illustration mit AI erstellt.

Anheuser-Busch InBev reported stronger third-quarter operating performance on Thursday, October 29, 2026, but regional weakness in China and higher investment costs pressured margins. The figures were published in the company release carried by AD HOC NEWS.

Revenue growth meets margin pressure

Organic revenue increased 4.9 percent from the year-earlier quarter, driven by pricing, premiumization and Beyond Beer. Reported revenue reached USD 16.512 billion, up 9.1 percent, while total volume rose 0.4 percent; beer volume slipped 0.1 percent and non-beer volume advanced 4.0 percent.

Normalized EBITDA rose 3.9 percent to USD 5.957 billion, but the margin contracted by 34 basis points to 36.1 percent. Higher sales and marketing investment, commodity costs and transportation expenses partly offset disciplined overhead management. Normalized EBIT increased 6.0 percent, while underlying EPS climbed 22.4 percent to USD 1.21.

Premium brands offset weak markets

The portfolio mix supported the quarter. Combined revenue from the brewer's megabrands grew 7.7 percent, Corona revenue increased 20 percent outside Mexico, no-alcohol beer revenue rose 35 percent and Beyond Beer revenue gained 19 percent. BEES Marketplace gross merchandise value for third-party products increased 45 percent to USD 1.4 billion.

Regional performance was uneven. Middle Americas organic revenue grew 12.1 percent and EBITDA increased 15.6 percent, while South America posted 9.1 percent revenue growth and 13.8 percent EBITDA growth. Asia Pacific revenue declined 9.5 percent organically and EBITDA fell 22.4 percent; in China, both volume and revenue dropped 16.8 percent and EBITDA fell 30.5 percent.

Dividend and outlook support

The board approved an interim dividend of EUR 0.40 per share for fiscal 2026, compared with EUR 0.15 for fiscal 2025. The Euronext ex-dividend date is November 19, 2026, with payment scheduled for November 23. AB InBev had completed USD 2.6 billion of its USD 6.0 billion share buyback by October 26.

Management reaffirmed the 2026 outlook, including EBITDA growth in line with its medium-term range of 4 to 8 percent. Net capital expenditure is expected at USD 3.5 billion to USD 4.0 billion, with a normalized effective tax rate of 26 to 28 percent.

Anheuser-Busch InBev stock traded at EUR 71.48 on Lang & Schwarz at 14:38 CET on Friday, October 30, 2026. The real-time quote of Anheuser-Busch InBev stock provides the latest trading view.