Anheuser-Busch InBev (NYSE:BUD) shares are up 2% Monday after the beverage giant’s first-quarter results topped Street expectations on the top and bottom lines.
The company reported revenue of $14.2 billion, up 13% year-over-year and above expectations of $14.07 billion. Adjust earnings were $0.65 per share in the period, compared to $0.60 a year ago and analyst projections of $0.59.
Total volumes grew by 0.9%, including beer volume rising 0.4% and non-beer volume up by 3.6%.
Shares of Anheuser-Busch climbed 2% Monday morning to $64.99.
The company kept its guidance consistent, saying it expects earnings before interest, taxes, depreciation and amortization (EBITDA) to improve “in line with our medium-term outlook of between 4-8%.”
Anheuser-Busch did not address the recent conservative backlash to its campaign with transgender influencer Dylan Mulvaney nor its subsequent shift away from that messaging.
Last month,CEO Brendan Whitworth said in a statement that the beer brand “never intended to be part of a discussion that divides people” without addressing Mulvaney directly
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