Anheuser-Busch InBev SA/NV (BUD) Company Report

Anheuser-Busch InBev reported revenue of USD 43,764 million, a 2.6% decrease, and volumes of 421,934 thousand hectoliters, a 2.8% decrease, for the nine-month period ended September 30, 2025, compared to the same period in 2024.
Normalized EBITDA increased by 0.2% to USD 15,750 million, and profit of the period increased by 6.6% to USD 6,100 million for the nine-month period ended September 30, 2025.
On October 29, 2025, the Board of Directors approved a USD 6 billion share buyback program to be executed within the next 24 months and an interim dividend of EUR 0.15 per share for fiscal year 2025.
The company also announced the redemption of approximately USD 2 billion of outstanding bonds on October 30, 2025.

Oct 30, 2025, 1:08 PM

6-K

AB InBev Reports Q3 2025 Results, Announces Share Buyback and Dividend

BUD

Earnings

Share Buyback

Dividends

AB InBev reported a 0.9% increase in revenue and a 3.3% increase in Normalized EBITDA for Q3 2025, with Underlying EPS growing by 1.0% to $0.99.
The company announced a $6 billion share buyback program to be executed within the next 24 months and approved an interim dividend of €0.15 per share for fiscal year 2025, in addition to a $2 billion bond redemption.
Despite a 3.7% decline in volumes in Q3 2025, revenue per hectoliter increased by 4.8%, driven by the momentum of megabrands like Corona (up 6.3% outside its home market), and 27% revenue growth in both no-alcohol beer and Beyond Beer portfolios.
For fiscal year 2025, AB InBev expects its EBITDA to grow between 4-8%.

Oct 30, 2025, 1:05 PM

6-K

AB InBev Reports Q3 2025 Results, Announces Share Buyback and Dividend

BUD

Earnings

Share Buyback

Dividends

AB InBev reported Q3 2025 financial results, with 0.9% top-line revenue growth and a 3.3% increase in EBITDA, leading to 85 bps of margin expansion. Underlying EPS was $0.99 per share, a 1% increase in U.S. dollars.
The company announced a $6 billion share buyback program to be executed over the next 24 months, an interim dividend of EUR 0.15 per share, and the redemption of $2 billion in outstanding bonds.
AB InBev reaffirmed its 2025 outlook for 4%-8% EBITDA growth.
Growth platforms, including premium beer, non-alcohol beer (net revenue up 27%), and beyond beer (Cutwater revenue grew in triple digits), continued to outperform, with Michelob ULTRA becoming the number one brand in the U.S. by volume year-to-date.
While overall volumes were below potential, revenue increased in 70% of markets, despite a 15.2% revenue decline in China.

Oct 30, 2025, 1:00 PM

Transcript

BUD Reports Q3 2025 Results, Announces Share Buyback and Interim Dividend

BUD

Earnings

Share Buyback

Dividends

BUD reported Q3 2025 revenue growth of 0.9% and an EBITDA increase of 3.3%, with 85 basis points of margin expansion. Underlying EPS was $0.99 per share, a 1% increase in U.S. dollars.
The company announced a $6 billion share buyback program to be executed over the next 24 months, an interim dividend of €0.15 per share, and the redemption of $2 billion of outstanding bonds ,.
BUD reaffirmed its 2025 outlook for 4% to 8% EBITDA growth, driven by strong year-to-date performance.
Growth platforms, including premium beer (Michelob Ultra is the number one brand in the U.S. by volume year to date), non-alcohol beer (net revenue grew 27%), and beyond beer (Cutwater grew triple digits and is now a top 10 spirits brand in the U.S.), continued to outperform.
The company navigated a dynamic operating environment with headwinds in China and unseasonable weather in the Americas, particularly in Brazil.

Oct 30, 2025, 1:00 PM

Transcript

AB InBev Reports Q3 2025 Results, Announces Share Buyback and Dividend

BUD

Earnings

Share Buyback

Dividends

For Q3 2025, AB InBev reported top-line growth of 0.9% and EBITDA growth of 3.3% with 85 bps margin expansion, leading to an underlying EPS of $0.99 per share, a 1% increase in U.S. dollars.
The Board approved a $6 billion share buyback program to be executed within the next 24 months, announced an interim dividend of €0.15 per share, and will redeem $2 billion of outstanding bonds.
Michelob Ultra is now the number one brand in the U.S. by volume year to date, and the Beyond Beer segment, which represents 2% of total volume, grew by 27%.
Despite challenges including a 15.2% revenue decline in China and unseasonable weather in the Americas, the company remains confident in delivering its 2025 outlook of 4% to 8% EBITDA growth.

Oct 30, 2025, 1:00 PM

Transcript

AB InBev Reports Mixed Q3 2025 Results and Announces Share Buyback

BUD

Earnings

Share Buyback

Dividends

Anheuser-Busch InBev reported mixed third-quarter 2025 results, with profits exceeding expectations despite a 0.9% revenue increase and a decline in global volumes. Normalized EBITDA grew 3.3%, expanding margins to 37%, though operating margins declined, and the balance sheet indicates high leverage.
The company announced a $6 billion share buyback plan and an interim dividend of 0.15 euros per share, which analysts view as signs of confidence and a return to growth.
Growth was fueled by strong performance from megabrands and no-alcohol beer, which saw a 27% increase in revenue, and the Beyond Beer portfolio also recorded a 27% revenue increase. The BEES Marketplace digital platform's third-party sales climbed 66% to $935 million.

Oct 30, 2025, 12:36 PM

Bloomberg

Anheuser-Busch InBev Reports Third Quarter 2025 Results and Announces Capital Allocation Initiatives

BUD

Earnings

Share Buyback

Dividends

Anheuser-Busch InBev reported 3Q25 revenue of 15,133 million USD, an increase of 0.9%, and Normalized EBITDA of 5,594 million USD, up 3.3%. Underlying EPS grew 1.0% to 0.99 USD in 3Q25.
The company announced a new 6 billion USD share buyback program to be executed within the next 24 months and an interim dividend of 0.15 EUR per share for fiscal year 2025. Additionally, a 2 billion USD bond redemption was announced.
For fiscal year 2025, AB InBev expects EBITDA to grow between 4-8%.

Oct 30, 2025, 6:05 AM

Press Release

Earnings Transcripts

Quarterly earnings call transcripts for Anheuser-Busch InBev SA/NV.

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