Why Anheuser-Busch (BUD) Stock Is Rising

Anheuser-Busch Inbev SA BUD shares are trading higher by 5.42% to $49.78 during Thursday's session after the company reported third-quarter earnings results and issued guidance.

What Happened?

Anheuser-Busch reported quarterly adjusted earnings of 84 cents per share which met the analyst consensus estimate.

The company reported quarterly sales of $15.09 billion which missed the analyst consensus estimate of $15.16 billion by less than 1%.

See Also: Why Shell Shares Are Rising Sharply

"We delivered broad-based volume growth of 3.7% this quarter resulting in an accelerated increase in revenue of 12.1%. We continue to see strong consumer demand for our portfolio and a resilient beer category as we navigate the dynamic operating environment. As a result of our performance and continued momentum, we are raising the bottom-end of our FY22 EBITDA outlook," said Michel Doukeris, CEO, 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.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsMoversTrading Ideaswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!