NYSE$BUD
Anheuser-Busch Inbev Sa-ADR · Q4 2024 earnings
Q4 2024 earnings · · Before market open · Investor relations
Briefing
AB InBev Q4 2024: $14.8B revenue (+2.5% reported), underlying EPS $0.88, FY revenue record $59.8B
Anheuser-Busch InBev reported Q4 and full-year 2024 results for the period ended December 31, 2024. Q4 reported revenue was $14,841 million (+2.5% reported, +3.4% organic) with revenue per hectoliter up 5.5%, despite unfavorable currency translation. Underlying EPS was $0.88 versus $0.82 in Q4 2023; reported diluted EPS was $0.94. Full-year reported revenue reached a record $59,768 million with underlying EPS of $3.53 (+15.4% YoY). EBITDA grew 8.2% in FY24 with margin expansion of 179 bps on production efficiencies and overhead discipline. Net debt to EBITDA fell to 2.89x, below 3x for the first time since 2015. The board proposed a 22% dividend increase, reflecting improved capital allocation and free cash flow generation.
- Q4 reported revenue of $14.8 billion rose 2.5% (3.4% organic) with revenue per hl up 5.5%.
- Underlying EPS was $0.88 (+7.3% YoY); reported diluted EPS was $0.94.
- Full-year revenue reached a record $59.8 billion; underlying EPS was $3.53 (+15.4% YoY).
- FY24 EBITDA grew 8.2% with 179 bps margin expansion on cost efficiencies.
- Net debt to EBITDA improved to 2.89x; proposed dividend increase of 22%.
Headline financials
Revenue & EPS history
Anheuser-Busch · Revenue · Quarterly
$14.8B
Forward guidance
Management expects continued top-line momentum and EBITDA growth in the mid-single-digit range for FY25, supported by revenue management and cost discipline.
Tailwinds
- Record USD revenues and 15.4% underlying EPS growth in FY24
- Net leverage below 3x enabling enhanced shareholder returns
Headwinds
- Unfavorable currency translation weighed on reported revenue growth
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2024
-0.4%
Avg return
Earnings day
-1.3%
Avg return
5 days after
+0.0%
Avg return
30 days after
51%
31 / 61 earnings
Positive
+9.7%
Q4 2018
Best reaction
-14.1%
Q2 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | -2.7% | -6.4% | -9.4% | |
| Q3 2025 | -2.4% | +0.7% | +0.1% | |
| Q2 2025 | -14.1% | -10.3% | -5.8% | |
| Q4 2024 | +7.2% | +1.3% | +0.0% | |
| Q2 2024 | +6.5% | +1.7% | +3.3% | |
| Q1 2024 | +4.8% | +6.8% | +2.7% | |
| Q3 2023 | +5.1% | +9.0% | +16.5% | |
| Q2 2023 | +0.5% | +0.2% | -0.1% | |
| Q1 2023 | +1.8% | -0.3% | -13.9% | |
| Q4 2022 | +3.0% | -0.8% | +10.8% | |
| Q3 2022 | +6.6% | +8.2% | +19.8% | |
| Q2 2022 | -4.7% | -7.9% | -11.6% | |
| Q1 2022 | -5.7% | -6.3% | -4.8% | |
| Q4 2021 | +5.4% | -5.8% | -5.0% | |
| Q3 2021 | +7.1% | +5.1% | +1.9% | |
| Q2 2021 | -8.2% | -8.9% | -10.5% | |
| Q1 2021 | +5.6% | +5.3% | +8.7% | |
| Q4 2020 | -11.5% | -9.3% | -3.0% | |
| Q3 2020 | -2.1% | +1.6% | +29.1% | |
| Q2 2020 | -4.0% | -1.7% | +4.3% | |
| Q1 2020 | +1.7% | -2.6% | +34.1% | |
| Q4 2019 | -11.9% | -14.5% | -35.1% | |
| Q3 2019 | -11.6% | -11.6% | -13.7% | |
| Q2 2019 | +5.2% | +6.3% | -1.4% | |
| Q1 2019 | -3.2% | -4.1% | -4.2% | |
| Q4 2018 | +9.7% | +10.0% | +12.4% | |
| Q3 2018 | -9.9% | -9.6% | -7.4% | |
| Q2 2018 | -4.7% | -4.7% | -8.0% | |
| Q1 2018 | -2.9% | -2.8% | -3.6% | |
| Q4 2017 | +4.2% | +6.2% | +3.5% | |
| Q3 2017 | -1.5% | +1.0% | -3.3% | |
| Q2 2017 | +4.7% | +3.6% | +0.7% | |
| Q1 2017 | +6.7% | +5.4% | +4.6% | |
| Q4 2016 | -1.1% | -2.2% | +4.0% | |
| Q3 2016 | -4.9% | -5.7% | -14.5% | |
| Q2 2016 | -0.5% | -1.8% | -0.1% | |
| Q1 2016 | +0.2% | — | — | |
| Q4 2015 | -2.9% | — | — | |
| Q3 2015 | +1.5% | — | — | |
| Q2 2015 | -4.4% | — | — | |
| Q1 2015 | +2.1% | — | — | |
| Q4 2014 | +1.8% | — | — | |
| Q3 2014 | -2.7% | — | — | |
| Q2 2014 | -0.1% | — | — | |
| Q1 2014 | +0.7% | — | — | |
| Q4 2013 | -1.7% | — | — | |
| Q3 2013 | -0.9% | — | — | |
| Q2 2013 | +0.6% | — | — | |
| Q1 2013 | -0.2% | — | — | |
| Q4 2012 | +2.6% | — | — | |
| Q3 2012 | -0.4% | — | — | |
| Q2 2012 | -0.4% | — | — | |
| Q1 2012 | +1.0% | — | — | |
| Q4 2011 | +0.6% | — | — | |
| Q3 2011 | -2.5% | — | — | |
| Q2 2011 | +0.7% | — | — | |
| Q1 2011 | +2.2% | — | — | |
| Q4 2010 | +0.5% | — | — | |
| Q3 2010 | -1.4% | — | — | |
| Q2 2010 | +2.1% | — | — | |
| Q1 2010 | +0.2% | — | — |
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