Benzinga | Jul 30, 2020 08:06AM EDT

Recap: Ambev Q2 Earnings

Shares of Ambev (NYSE:ABEV) rose 1.4% in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share were down 80.00% year over year to $0.01, which were in line with the estimate of $0.01.

Revenue of $2,164,000,000 decreased by 34.00% year over year, which beat the estimate of $1,660,000,000.

Looking Ahead

Earnings guidance hasn't been issued by the company for now.

Revenue guidance hasn't been issued by the company for now.

Details Of The Call

Date: Jul 30, 2020

Time: 11:00 AM

ET Webcast URL: https://webcastlite.mziq.com/cover.html?webcastId=6d51d07b-9972-44ef-99fc-0f91a1c0f78b

Technicals

Company's 52-week high was at $5.45

52-week low: $1.90

Price action over last quarter: Up 37.21%

Company Profile

Ambev is the largest brewer in Latin America by volume and the fourth- largest beer producer in the world. It produces, distributes, and sells beer and PepsiCo products in Brazil and other Latin American countries. It also owns Argentina's largest brewer, Quinsa. Ambev was formed in 1999 through the merger of Brazil's two largest beverage firms, Brahma and Antarctica. In 2004, Ambev combined with Canadian brewer Labatt, giving Interbrew (now Anheuser-Busch InBev) a controlling interest.