AB InBev Q1 Beats Estimates with Volume Growth

Anheuser-Busch InBev, the world's largest brewer, reported first-quarter results for 2026 that exceeded analyst expectations, marking its first quarterly volume growth in three years and sending shares up about 7 percent in early trading.

The Belgium-based company posted organic volume growth of 0.8 percent for the three months ended March, driven by a 1.2 percent increase in beer volumes. Revenue reached 15.27 billion euros, topping the 14.8 billion euro consensus estimate, while adjusted earnings per share came in at 0.97 euros, surpassing forecasts of 0.89 euros. Adjusted net income rose to 1.92 billion euros from 1.61 billion a year earlier, and EBITDA totaled 5.44 billion euros.

Beer sales hit record highs by volume in markets including Mexico, Colombia, Brazil, South Africa and Peru, providing key momentum. Non-beer volumes, such as ready-to-drink cocktails and seltzers, declined 1.9 percent. The zero-alcohol segment showed strength, with revenue up 27 percent, led by double-digit volume gains for Corona Cero alongside offerings like Budweiser Zero and Michelob Ultra Zero.

Chief Executive Michel Doukeris attributed the results to core strengths in the beer category. "Cheers...