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Dec 31, 2024
Anheuser-Busch Q4 2024 Earnings Report
Anheuser-Busch InBev reported increased revenue and underlying EPS growth in Q4 2024.
Key Takeaways
Anheuser-Busch InBev reported Q4 2024 revenue of $14.84 billion and underlying profit of $1.77 billion. Underlying EPS increased to $0.88. Revenue growth was driven by strong performance in EMEA and South America despite volume declines in China and North America.
Revenue increased by 3.4% to $14.84 billion.
Underlying profit for Q4 2024 was $1.77 billion.
Underlying EPS increased to $0.88, up from $0.82 in Q4 2023.
Normalized EBITDA grew by 10.1% to $5.25 billion.
Revenue by Geographic Location
Forward Guidance
AB InBev expects EBITDA to grow in line with their medium-term outlook of 4-8% for FY 2025.
Positive Outlook
- EBITDA expected to grow in line with medium-term outlook of 4-8%.
- Net finance costs are expected to be in the range of $190-$220 million per quarter.
- Normalized effective tax rate for FY25 expected to be 26-28%.
- Net capital expenditure expected to be between $3.5 billion and $4.0 billion.
- Continued focus on premiumization and growth in key markets.
Challenges Ahead
- Uncertainty due to inflation and macroeconomic factors.
- Potential headwinds in China due to industry softness.
- Higher net finance costs impacting profitability.
- Volume declines expected in North America.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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