Anheuser-Busch InBev stock posts 4.9% Q3 revenue growth

Published on 11/05/2026 at 10:44 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Anheuser-Busch InBev stock follows a quarter of revenue and earnings growth. China weakness and margin pressure remain key investor concerns.

Growth Meets Regional Pressure

Third-quarter organic revenue increased as pricing, premiumization and non-alcohol beer supported performance.
Beer volumes were broadly flat, while China remained a significant drag on Asia Pacific results.
The board approved a higher interim dividend and maintained its 2026 EBITDA outlook.

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

Anheuser-Busch InBev reported stronger third-quarter 2026 results on October 29, with organic revenue growth supported by pricing, premiumization and expansion beyond traditional beer. The release from Business Wire said revenue rose 4.9 percent in the quarter, while total volumes increased 0.4 percent.

The real-time quote of Anheuser-Busch InBev stock was 75.06 euros on Lang & Schwarz at 10:37 CET on Thursday, November 5, 2026.

Revenue Growth Despite Flat Beer Volumes

Reported revenue climbed 9.1 percent to 16.512 billion USD, benefiting from currency translation. Revenue per hectoliter increased 4.2 percent, reflecting revenue management and a favorable mix. Combined revenue from the company's megabrands rose 7.7 percent, led by Corona, whose revenue outside its home market grew 20 percent.

Beer volumes declined 0.1 percent, but non-beer volumes rose 4.0 percent. The company said it gained or maintained market share in an estimated two-thirds of its markets and reached record third-quarter volumes in 15 countries, including Colombia, Peru, Ecuador, South Africa, the Dominican Republic and India.

Margins Reflect Higher Investment

Normalized EBITDA increased 3.9 percent to 5.957 billion USD, although the normalized EBITDA margin narrowed by 34 basis points to 36.1 percent. AB InBev attributed the performance to increased sales and marketing investment and commodity cost pressure, partly offset by disciplined overhead management. Normalized EBIT rose 6.0 percent to 4.538 billion USD.

Underlying profit increased to 2.396 billion USD from 1.970 billion USD a year earlier. Underlying EPS rose 22.4 percent to 1.21 USD. The company said the quarter marked a third consecutive period of volume growth, although management also highlighted a challenging beer industry in China.

China Remains A Key Risk

Asia Pacific volumes fell 11.0 percent organically in the quarter, with China volumes down 16.8 percent. Revenue in the region declined 9.5 percent, while normalized EBITDA dropped 22.4 percent. AB InBev cited abnormal weather, weakness in the on-premise channel and inventory management as factors affecting China.

Growth in other categories provided a counterweight. Revenue from no-alcohol beer increased 35 percent, Beyond Beer revenue rose 19 percent and third-party sales through the BEES Marketplace lifted quarterly gross merchandise value 45 percent to 1.4 billion USD.

Dividend And Outlook

The board approved an interim dividend of 0.40 euros per share for fiscal 2026, compared with 0.15 euros for fiscal 2025. The Euronext ex-dividend date is November 19, followed by the record date on November 20 and payment on November 23.

AB InBev kept its 2026 outlook for EBITDA growth in line with its medium-term range of 4 to 8 percent. It also expects net capital expenditure of 3.5 billion to 4.0 billion USD and a normalized effective tax rate of 26 to 28 percent. As of October 26, the company had completed 2.6 billion USD of its 6 billion USD share buyback program.

The wider German market is represented by the DAX, while investors will continue to weigh AB InBev's brand momentum against China weakness and margin investment.

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