Anheuser-Busch InBev (NYSE:BUD) (AB InBev) shares surged more than 8% after the beer brewer’s fourth quarter earnings topped Wall Street estimates.
The company, whose brands include Budweiser and Corona, posted a 3.4% year-over-year increase in revenue to $14.84 billion. Analysts had expected a 2.9% decline to $14.05 billion.
Earnings per share rose 7% to $0.88, ahead of estimates of $0.63.
Volumes were down 1.9% in Q4 and 1.4% in 2024, attributed to weak demand in China and Argentina. Excluding those two markets, AB InBev’s volumes grew 0.9% during the year.
“The strength of our 2024 results is a testament to the consistent execution of our strategy and the hard work and dedication of our people,” AB InBev CEO Michel Doukeris said in a statement. “We are investing for the long-term and are confident in our ability to lead and grow the category.”
For 2025, the company projected EBITDA growth between 4% to 8%, in line with its medium-term outlook.
It guided planned capital expenditures between $3.5 billion and $4 billion.
Shares of AB InBev were up 8.5% at about $59 on Wednesday morning.