The logo of Anheuser-Busch InBev is pictured outside the brewer’s headquarters in Leuven, Belgium February 28, 2019. REUTERS
LONDON, Oct 30 (Reuters) – Belgian brewer Anheuser-Busch InBev posted on Thursday third-quarter profit well ahead of expectations, reinstated its interim dividend and launched a $6 billion share buyback over two years.
The world’s top brewer by market value reported a 3.3% rise in organic operating profit in the three months to September 30, beating expectations for a 0.9% rise. But it was still the company’s lowest quarterly profit growth since 2021, as it grapples with flagging sales and currency volatility.
“Our business delivered continued top- and bottom-line growth even as we navigated a dynamic consumer environment,” CEO Michel Doukeris said, adding cost management had helped it offset foreign exchange impact.
The maker of Stella Artois and Corona had on average been expected to post a $2 billion buyback covering a year, analysts said in notes ahead of its third-quarter results, though some individually forecast a much larger programme as AB InBev cuts debt and builds free cash.
AB InBev has been slowly building returns to shareholders as it reduces leverage built up over years of major acquisitions. On Thursday, it reinstated an interim dividend of 15 cents per share.
Reporting by Emma Rumney Editing by Himani Sarkar and Muralikumar Anantharaman
