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.

Total Revenue

$14.8B

Previous year: $14.5B

+2.5%

EPS

$0.88

Previous year: $0.82

+7.3%

Total Volumes

141.83K

Normalized EBITDA Margin

35.3%

Gross Profit

$8.2B

Cash and Equivalents

$11.2B

Free Cash Flow

$11.3B

Total Assets

$207B

Anheuser-Busch Revenue

Anheuser-Busch EPS

Anheuser-Busch 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.
Ongoing geopolitical and economic uncertainties.

Revenue & Expenses

Visualization of income flow from segment revenue to net income