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CASTLE MALTING NEWS in partnership with www.e-malt.com Portuguese
05 April, 2024



Brewing news USA: AB InBev continues recovery in the US during 2024

Anheuser-Busch InBev has continued its recovery in the U.S. during 2024, according to data from industry tracker Fintech. Of note, Michelob Ultra is now leading all beer brands in retailer purchases so far in 2024, and Bud Light continues to show noticeable improvement since November, MSN reported on April 4.

"We see the on-premise share recovery in the Fintech data as the strongest sign that the ABI portfolio is on its way back to health and with potentially a better product mix, as Michelob Ultra sells at a 10-15% premium to Bud Light," updated Evercore ISI analyst Robert Ottenstein.

Ottenstein said the combined U.S. market share of Bud Light and Michelob Ultra at about 27.5% is much better than what was anticipated last summer. Of note, the company's Michelob Ultra, Busch Light, Kona Big Wave, and Estrella Jalisco brands all have more on-premise retail taps than a year ago. It's not all positive for BUD, as Ottenstein expects a tough U.S. comp for Q1 and continued pressure in China to weigh on earnings results. However, he also noted that Brazil is likely off to a strong start, and comps in the U.S. should support stronger sales growth and cost leverage over the remainder of the year.

Shares of Anheuser-Busch InBev have outperformed the broad consumer staples sector over the last six months, but trade about 11% below their 52-week high. The dividend yield for new buyers of the beer stock is 1.37%. The Seeking Alpha Quant Rating is flashing Hold.





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