Anheuser-Busch InBev reports 22% increase in underlying earnings per share

Anheuser-Busch InBev announced its third-quarter 2026 financial results, reporting a 22.4% increase in underlying earnings per share to $1.21. Reported revenue reached $16.512 billion, representing a 9.1% increase compared to the previous year.

Key drivers of the growth included a 4.2% increase in revenue per hectoliter, supported by pricing management and a favorable sales mix through premiumization and the “Beyond Beer” category. While beer volume saw a slight decline of 0.1%, non-beer beverage volumes rose by 4.0%.

Management highlighted the success of mega brands such as Corona, Stella Artois, and Michelob ULTRA, which contributed to top-line expansion. The company also emphasized the growth potential of non-alcoholic products, noting that approximately 60% of the volume in this category comes from new consumers and occasions.

In terms of shareholder returns, the company increased its interim dividend from 0.15 euros to 0.40 euros per share and continues to execute a $6 billion stock buyback program, supported by strong free cash flow.