Anheuser-Busch InBev stock slips after Q2 EPS beat

Anheuser-Busch InBev (ISIN BE0974293251) stock slipped after second-quarter 2026 results showed underlying EPS of $1.21, up 23.4% from $0.98 a year earlier. The brewer's first-half 2026 revenue rose 5.7% and EBITDA increased 5.6%, giving investors a fresh read on margin resilience as of July 30, 2026.

Q2 earnings set the tone

The latest results were carried by stronger profit growth than sales growth, with first-half underlying EPS up 22.1% to $2.18 from $1.79 in the first half of 2025. Revenue and EBITDA both advanced in the same period, but only modestly faster at 5.7% and 5.6%, respectively, which keeps the margin debate alive.

MarketBeat said the brewer's quarterly earnings came in at $1.21 per share, topping the consensus estimate of $1.09 by $0.12. That is a quantified beat, and it helps explain why the stock held close to its recent range rather than repricing sharply lower.

Volume growth still matters

Category mix remains a key piece of the story. An industry recap published on August 12, 2026 said the company's nonalcoholic beer revenue rose 27% year on year in the second quarter, down from 33% growth in the same quarter of 2025.

That six-point slowdown does not erase the growth rate, but it does show why investors are watching whether premiumization and efficiency can keep earnings ahead of revenue in the second half of 2026.

Nonalcoholic beer slows

The brewer's 27% rise in nonalcoholic beer revenue still stands out against the broader consumer staples backdrop, especially after 33% growth in the same quarter of 2025. The pace is slower, but the absolute rate remains high enough to matter for the group's mix and pricing power.

Product spotlight

Budweiser remains one of the group's best-known labels and still anchors the company's global scale in beer, with the latest quarter showing how category mix can support earnings even when revenue growth is steadier.

Stock level

AB InBev shares were quoted at $79.19 on August 13, 2026, with market cap at $136.91 billion and EPS TTM at 3.6646. The stock's current level sits near a recent range, while Zacks puts the next earnings date at October 29, 2026.