The upcoming earnings report is a significant event for any company and can have a direct impact on its stock price. In the case of Ambev, the company's past performance shows a mixed trend of meeting or exceeding EPS estimates, which has led to minor fluctuations in the share price post-earnings announcements. However, the stock is currently down 20.75% over the last 52-week period, indicating a negative sentiment among investors. Therefore, the upcoming earnings report could potentially influence the stock's performance, depending on whether the company meets, exceeds, or falls short of the estimated EPS.