Anheuser-Busch InBev’s liquor sales are still down in North America while its ghosts brands are expanding, the Belgian-based baker told investors during its most latest earnings call on Wednesday.
The first quarter of 2024’s statement comes more than a year after A-B sent transgender influence Dylan Mulvaney a may featuring her mouth, which some conservatives criticized for a protest.
A- B revenue was down almost 9 % in the U. S. and Canada, due to a volume decline of nearly 10 %, A- B InBev CEO Michel Doukeris said Wednesday morning.
However, Doukeris described the U.S. liquor industry as resilient, with “beer volumes improving sequentially throughout the third and dollar sales continuing to increase compared to last year.”
Overall, total volume declined by 0.6 %, with poor performance in the U. S., Argentina and China, but total revenue increased by$ 334 million, or 2.6 %,$ 14.5 billion.
Bud Light revenue dropped last month, but the company claimed that Michelob Ultra, Busch Light, Cutwater, and Nutrl have helped it gain momentum in the market.
With the upcoming Olympics and Team USA collaboration and summer vacations, the business looks forward to continuing development of these products, according to Fernando Tennenbaum, A-B InBev’s CFO. Both Michelob Ultra and Busch Light both saw record high market stocks in the last few months.
Cutwater and Nutrl, two of A- B’s nature brands, helped drive non- beverage volumes to increase 3.5 % this second quarter, he said.
” We are now only 1 % on this market, but we account for approximately 15 % of the buck growth”, Tennenbaum said, of the prepared- to- drink sector. Both brands are among the top ten spirits companies in the United States for money sales, and both companies are now among the top ranked brands. S”.
___
© 2024 , STLtoday .com.
Distributed by Tribune Content Agency, LLC.
