Why Budweiser Parent Anheuser-Busch InBev's Shares Are Taking Off Today
Portfolio Pulse from Shivani Kumaresan
Anheuser-Busch InBev SA/NV (NYSE:BUD) shares surged after reporting Q1 FY24 earnings that exceeded expectations, with a 2.6% organic sales growth to $14.547 billion, surpassing analyst estimates. The company saw a slight decline in total volumes but increased revenue per hl and expanded gross profit and margin. EBITDA grew 5.4% organically, and underlying profit and EPS also beat estimates. The company anticipates FY24 EBITDA growth of 4%-8% and plans $4 billion to $4.5 billion in capital expenditures. BUD shares rose 4.84% in premarket trading.
May 08, 2024 | 12:09 pm
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Anheuser-Busch InBev reported strong Q1 FY24 earnings, surpassing analyst expectations with organic sales growth and improved profit margins, leading to a premarket share price increase of 4.84%.
The positive earnings report, which exceeded analyst expectations in terms of sales growth and profitability, directly contributes to investor optimism, driving up the stock price in the short term. The company's outlook for FY24 EBITDA growth aligns with its medium-term goals, further bolstering investor confidence in its financial health and growth trajectory.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100