Anheuser-Busch InBev SA/NV (NYSE:BUD) Releases Earnings Results, Beats Expectations By $0.04 EPS

14 Feb 2026, 15:46 by Kim Johansen · The Markets Daily

Anheuser-Busch InBev SA/NV (NYSE:BUD – Get Free Report) released its earnings results on Thursday. The consumer goods maker reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.04, Briefing.com reports. Anheuser-Busch InBev SA/NV had a return on equity of 24.32% and a net margin of 11.53%.The company had revenue of $15.56 billion during the quarter, compared to analyst estimates of $15.48 billion. During the same quarter in the prior year, the company earned $0.88 earnings per share. The company’s revenue for the quarter was up 6.2% on a year-over-year basis.

Here are the key takeaways from Anheuser-Busch InBev SA/NV’s conference call:

AB InBev delivered EBITDA growth of 4.9%, expanded margins by 101 basis points, maintained free cash flow of ~$11.3bn, and raised capital returns (interim + proposed final dividend and ongoing $6bn share buyback program), strengthening capital allocation and balance sheet flexibility.
Strategic growth engines accelerated — Beyond Beer revenue +23%, non‑alcohol beer revenue +34%, and BEES Marketplace GMV rose 61% to $3.5bn, supporting diversification and higher‑margin mix shifts.
The U.S. is showing clear turnaround momentum with share gains in beer and spirits led by Michelob ULTRA, Busch Light and triple‑digit growth at Cutwater, giving AB InBev a strong regional growth case and marketing wins (e.g., Super Bowl/Ad Meter recognition).
Overall volumes were below potential in 2025 and China underperformed (revenue down low‑teens) as the company adjusted inventory, channel focus and faces a still‑stabilizing on‑trade environment, posing near‑term growth headwinds.
Management reiterated 2026 targets of organic EBITDA growth of 4–8%, net CapEx of $3.5–4.0bn and a normalized tax rate of 26–28%, while noting phasing risks (transactional effects, A&P timing for major events like the World Cup).

Anheuser-Busch InBev SA/NV Stock Up 0.3%

BUD stock traded up $0.20 during trading hours on Friday, hitting $80.40. The company’s stock had a trading volume of 3,191,774 shares, compared to its average volume of 2,453,364. The stock has a 50 day moving average price of $67.91 and a two-hundred day moving average price of $63.45. Anheuser-Busch InBev SA/NV has a 12 month low of $52.47 and a 12 month high of $81.56. The company has a market capitalization of $157.00 billion, a PE ratio of 23.37, a price-to-earnings-growth ratio of 1.69 and a beta of 0.55. The company has a quick ratio of 0.48, a current ratio of 0.64 and a debt-to-equity ratio of 0.79.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on BUD shares. JPMorgan Chase & Co. restated a “buy” rating on shares of Anheuser-Busch InBev SA/NV in a research report on Friday, February 6th. Barclays restated a “buy” rating on shares of Anheuser-Busch InBev SA/NV in a report on Friday. UBS Group reaffirmed a “buy” rating on shares of Anheuser-Busch InBev SA/NV in a research report on Thursday. Berenberg Bank reiterated a “buy” rating on shares of Anheuser-Busch InBev SA/NV in a research note on Tuesday, January 27th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Anheuser-Busch InBev SA/NV in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $81.00.

Read Our Latest Stock Report on Anheuser-Busch InBev SA/NV

Key Stories Impacting Anheuser-Busch InBev SA/NV

Here are the key news stories impacting Anheuser-Busch InBev SA/NV this week:

Positive Sentiment: Q4 underlying EPS beat and margin progress — AB InBev reported $0.95 underlying EPS, beating consensus and showing year-over-year EPS growth and margin expansion; management highlighted improved momentum heading into 2026. Press Release / Slide Deck
Positive Sentiment: Multiple big-bank buy ratings reaffirmed — Barclays, Goldman Sachs, RBC, Jefferies and UBS all kept buy/positive stances after the print, supporting upside sentiment from the sell-side. Barclays Rating Goldman Sachs Rating RBC Rating
Neutral Sentiment: Earnings call materials and transcript available — The full Q4 presentation and earnings-call transcript were published for detailed metrics, channel checks and management commentary (useful for modeling cash flow, capex and guidance assumptions). Earnings Call Transcript Presentation
Neutral Sentiment: Company press release and full results posted — Provides the official underlying EPS reconciliation, FCF metrics (11.3bn USD noted for FY) and management commentary to update forecasts. BusinessWire
Negative Sentiment: Revenue slightly missed and beer volumes declined — Revenue came in a touch below consensus and global beer volumes fell (about -1.5% yoy), with company citing weak demand and weather headwinds; volume weakness is the main near-term risk to topline and growth assumptions. Zacks Coverage

Hedge Funds Weigh In On Anheuser-Busch InBev SA/NV

Several institutional investors have recently bought and sold shares of the stock. DRW Securities LLC bought a new stake in Anheuser-Busch InBev SA/NV during the 4th quarter valued at approximately $322,000. Moneta Group Investment Advisors LLC boosted its holdings in Anheuser-Busch InBev SA/NV by 31.6% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,754 shares of the consumer goods maker’s stock valued at $304,000 after purchasing an additional 1,142 shares during the period. Chesapeake Capital Corp IL acquired a new stake in Anheuser-Busch InBev SA/NV in the 3rd quarter worth $263,000. Cibc World Market Inc. bought a new position in shares of Anheuser-Busch InBev SA/NV during the 4th quarter worth about $249,000. Finally, Headlands Technologies LLC acquired a new position in shares of Anheuser-Busch InBev SA/NV during the fourth quarter valued at about $227,000. 5.53% of the stock is currently owned by institutional investors.

Anheuser-Busch InBev SA/NV Company Profile

(Get Free Report)

Anheuser-Busch InBev SA/NV (NYSE: BUD) is a multinational brewing company headquartered in Leuven, Belgium. It is one of the world’s largest brewers and is primarily engaged in the production, distribution and marketing of beer and related beverages. The company’s operations span brewing, packaging, logistics and retail/customer sales support, serving a broad set of channels from on-premise hospitality to retail and e-commerce.