Benzinga | Oct 28, 2021 10:28AM EDT

Why Anheuser-Busch Shares Are Surging Today

Anheuser-Busch InBev SA/NV (NYSE:BUD) is trading higher Thursday after the company announced better-than-expected third-quarter revenue results and raised guidance.

Anheuser-Busch reported quarterly underlying earnings of 85 cents per share, up from 80 cents per share year-over-year. The company reported quarterly revenue of $14.27 billion, which beat the estimate of $13.8 billion.

Anheuser-Busch said it expects EBITDA to grow between 10% and 12% and revenue to grow ahead of EBITDA from a healthy combination of volume and price.

"During the third quarter, we delivered top- and bottom-line growth versus both 2020 and pre-pandemic levels of 2019 driven by relentless execution, investment in our brands and accelerated digital transformation. As a result of our performance and our continued momentum we are raising the bottom-end of our EBITDA guidance," said Michel Doukeris, CEO of Anheuser-Busch.

Related Link: Anheuser-Busch InBev Shares Gain On Q3 Revenue Beat, Positive Outlook

BUD Price Action: Anheuser-Busch has traded as high as $79.67 and as low as $51.45 over a 52-week period.

The stock was up 10.80% at $63.31 at time of publication.

Photo: courtesy of Anheuser-Busch.