Anheuser-Busch InBev working through 2023 boycott in Q1 beat

Like the cap off of a nice cold bottle of Bud Light, Anheuser-Busch InBev (BUD) shares are popping Wednesday morning after topping first-quarter earnings estimates — $14.55 billion in revenue (analysts expected $14.39 billion) and adjusted earnings of $0.75 per share (analysts expected $0.66).

Yahoo Finance Retail Reporter Brooke DiPalma joins Catalysts to crack open AB InBev's volume figures, with the beer distributor's North American segments still suffering from last year's boycotts.

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This post was written by Luke Carberry Mogan.

Video Transcript

And as Bush shares are rising after reporting better than expected results in the first quarter, slumping sales in the US, they were actually offset by gains that the company saw over in Europe.We're looking at the move higher just about 4%.Brooke Dipalma has those details for us.Yeah, good morning to you both cheers jumped as much as 5% at the market open this morning.Largely because Wall Street was really impressed by uh earnings and a revenue be both the top bottom line that earnings beat came in at 70 five cents and that was largely driven by stronger than expected.Margins.Revenue grew 2.6% year over year to $14.55 billion on higher pricing.But that was once again, offset by volume declines.And if we take a closer look, overall volume came in higher than expected, but still down about 0.6% and largely driven as you can see here by that North America segment of the business where volume declined 9.9% largely due to declines here in the US.Because of that one year anniversary of the bud Light boycott.We did see sales to retailers as well as sales to wholesalers down about 10 to 13% for both segments as those grocery stores and retailers restock their shelves this spring.But the company did see that, see that did say that they are improving gradually from May 2023.And now market share here in the US is roughly flat compared to last year.But this would decline was large.The offset by Middle America, especially in Mexico.They did call Mexico their second market.We did see increased volumes there, largely driven by Corona.We also saw Mia particularly Europe have strong volume growth revenue.There also increased in Europe and that was largely driven by pricing and premium brands that are doing well.But largely there is a renewed focus here for Anheuser Busch to really focus in on what they believe consumers need and what sort of connection they want from this beer giant in terms of promotion at live music events, as well as sporting events.And of course, we've heard from so many other companies that they're picking up share from these year uh year over year losses from Bud Light.And so the competition is brewing, I guess you could say, but the competition definitely is still very apparent across the board as these beer makers really look to capitalize on that loss that we saw last year.Well, I loved that.Thanks for joining us as always Brooke