Ambev SA reported a 1.3% YoY sales decline in Q3 FY23, with a 2.0% volume decline. However, the company benefited from FX and commodities tailwinds, and increased efficiencies in distribution and administrative expenses. Adjusted EPS increased 26% YoY, and organic net revenue increased 19.3%. Gross profit increased 1.6% to R$10.1 billion, and the profit margin expanded to 49.7%. Adjusted operating income climbed 20.5% to R$4.9 billion, and adjusted EBITDA jumped 17.6% to R$6.6 billion. Total consolidated debt as of September 30, 2023, totaled R$3.72 billion. Operating cash flow grew 29.7% to R$7.92 billion. ABEV shares are trading higher by 3.50% at $2.52.