© Reuters. Why Anheuser-Busch (BUD) shares are rising
Anheuser-Busch Inbev SA (NYSE: BUD) Shares are trading up 5.42% at $49.78 in Thursday’s session after the company reported third-quarter earnings and released guidance.
Anheuser-Busch reported quarterly adjusted earnings of 84 cents per share, matching analysts’ consensus estimate.
The company reported quarterly sales of $15.09 billion, which beat analysts’ consensus estimate of $15.16 billion by less than 1%.
“We experienced broad-based volume growth of 3.7% this quarter, resulting in an accelerated revenue increase of 12.1%. We continue to see strong consumer demand for our portfolio and a resilient beer category as we navigate a dynamic operating environment. our performance and continued momentum, we are raising the bottom of our FY22 EBITDA outlook,” said Michel DoukerisCEO, AB InBev.
According to data from Benzinga Pro, Anheuser-Busch has a 52-week high of $67.91 and a 52-week low of $44.51.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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