- Anheuser-Busch InBev SA/NV (NYSE:BUD) reported fourth-quarter FY21 sales growth of 12.1% year-on-year, to $14.2 billion, beating the consensus of $13.75 billion.
- Total volumes grew by 3.6%, with own beer volumes up by 3.4% and non-beer volumes up by 3.8%. Revenue per hl grew 8.1%.
- The company reported a 23.5% increase in combined revenues of its global brands, Budweiser, Stella Artois, and Corona, outside of their respective home markets in 4Q21.
- Gross profit expanded 9.8% organically to $8.1 billion, and gross margin contracted 150 basis points to 57.1%.
- Normalized EBITDA for the quarter was $4.8 billion, with the margin contracting to 34.4%.
- It reported an Underlying EPS of $0.74 and Normalized EPS of $0.90.
- The company's board proposes full year 2021 dividend of €0.50 per share, subject to shareholder approval at the AGM on April 27, 2022.
- Outlook: Anheuser-Busch InBev expects its EBITDA to grow in-line with its medium-term outlook of 4%-8% and revenue to grow ahead of EBITDA from a healthy combination of volume and price.
- Price Action: BUD shares are trading lower by 4.74% at $59.68 in premarket on the last check Thursday.
