Beer giant Anheuser-Busch Inbev (NYSE: BUD) was up in pre-market trading at the time of publishing on Thursday after the company announced Q2 earnings of $0.72 per share as compared to $0.73 per share in the same period last year, surpassing consensus estimates of $0.68 per share.
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BUD generated revenues of $14.79 billion in Q2, up by 7.2% year-over-year but fell short of Street estimates of $15.4 billion. The company’s revenue growth was driven by “a revenue per hl [hectoliter] increase of 9.0% as a result of pricing actions, ongoing premiumization and other revenue management initiatives.”
The company stated in its press release that looking forward to FY23, that it expects its “EBITDA to grow in line with our medium-term outlook of between 4-8% and our revenue to grow ahead of EBITDA from a healthy combination of volume and price.”
Analysts are cautiously optimistic about BUD stock with a Moderate Buy consensus rating based on five Buys and three Holds.
