By Joshua Kirby
Budweiser maker Anheuser-Busch InBev said it is confident of continued earnings growth in the year ahead after beer sales volumes fell by less than expected at the end of 2025.
The world's largest brewer said volumes fell 1.5% in the last quarter 2025 compared with a year earlier, a less sharp decline than the 2.7% analysts had expected, according to a consensus of estimates compiled by the company. The previous quarter, volumes had declined by 3.7% on year.
That helped drive a 2.5% rise in revenue over the quarter, beating analysts' expectations and taking full-year revenue to $59.32 billion. Adjusted earnings before interest, taxes, depreciation and amortization climbed nearly 5% over the year to $21.22 billion.
AB InBev's fourth-quarter results followed the trend of modest revenue rises despite sliding volumes also booked by the brewer's European peers Carlsberg and Heineken.
The Belgian group, whose labels also include Michelob, Corona and Stella Artois, said it was confident of keeping up the momentum over the coming year. The company aims to book Ebitda for the year in line with its midterm guidance of 4%-8% annual growth.
"We remain confident in the long-term potential of the beer category, which has structural tailwinds for growth and plays an important role in bringing people together and creating moments of celebration," it said.
Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby
(END) Dow Jones Newswires
02-12-26 0148ET
