AB InBev: 22% EPS Growth as China Slides: Rapid Earnings Reaction
AB InBev 's (NYSE: BUD) third-quarter earnings got a lift from premium beers and a lighter interest bill. But the brewer's operating performance wasn't quite as strong as its 22% increase in underlying earnings per share might suggest. Underlying EPS reached $1.21, while reported basic EPS came in at $0.81. Normalized EBITDA grew a more modest 3.9% organically, and margins narrowed as marketing spending and commodity costs rose. AB InBev brought in more revenue without selling much more beer. Total volumes rose 0.4% organically, while beer volumes slipped 0.1%. Revenue per hectoliter increased 4.2%, supported by pricing strategies and a shift toward premium beers and Beyond Beer products. Continue reading