Anheuser-Busch Inbev (BUD) -- the parent company of Budweiser -- has found itself at the center of the culture wars on social media in recent weeks.
Repercussions surfaced after the company's decision to hire a transgender spokesperson for a Bud Light ad campaign, but company CEO Michel Dimitrios Doukeris doesn't seem too worried about the backlash.
While Doukeris confirmed reports about a significant decline in sales since the controversy erupted -- Bud Light sales volume in the U.S. declined over the first three weeks of April -- he also stated that his company is well-equipped to handle the pressure thanks to its global portfolio.
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"With respect to the current situation and the impact of Bud Light sales, it is too early to have a full view -- Bud Light's volume decline... would represent around 1% of our overall global volumes for that period," Doukeris said on the company's earnings call.
"With this perspective and in the context of our global business, we believe we have the experience, the resources and the partners to manage this."
The results from the quarter lend credence to this theory as Anheuser-Busch saw its first-quarter profit jump nearly 14% year over year to $4.76 billion because of the higher prices the company charged in the quarter.
The company raised the price of its alcohol and its fans didn't flinch.
Meanwhile, the company continues to distance itself from Dylan Mulvaney, the spokesperson at the center of the controversy.
"We will need to continue to clarify the facts. -- that this was one camp, one influence on a post and not a campaign," Doukeris said.
But even while doing so, AB InBev wants investors to know that it is a global company and that the U.S. isn't even its biggest market.
"Bud Light is very important to our U.S. business, and I would never minimize the situation. However, seeing the context of our global company provides perspective," Doukeris said.
But that doesn't mean the company is giving up on Bud Light. To the contrary, AB InBev plans to triple its ad spend on the brand this summer.
