Shares of brewing company Anheuser-Busch Inbev (NYSE: BUD) were on an upswing in pre-market trading at the time of writing on Thursday after the company reported adjusted earnings of $0.65 per share in the first quarter versus $0.60 in the same period last year and exceeding analysts’ expectations of $0.59 per share.
Revenues increased by 13.2% year-over-year on an organic basis to $14.2 billion versus consensus estimates of $14.07 billion. In Q1, total volumes grew by 0.9%, with beer volumes rising by 0.4% and non-beer volumes up by 3.6%.
Looking forward, the management expects its “EBITDA to grow in line with our medium-term outlook of between 4-8% and our revenue to grow ahead of EBITDA from a healthy combination of volume and price.”
Analysts are cautiously optimistic about BUD stock with a Moderate Buy consensus rating based on two Buys and two Holds.