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AB InBev's Q3 Earnings on Deck: What Surprise Awaits Investors?
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Key Takeaways
AB InBev's Q3 revenues are projected to rise 7.3% to $16.2B, with EPS climbing 15.2% to $1.14.
Premiumization, strong brands like Corona and Michelob Ultra, and innovation may drive BUD's Q3 growth.
China's weak demand and higher costs may weigh on BUD's results despite efficiency gains.
Anheuser-Busch InBev SA/NV (BUD - Free Report) , also known as AB InBev, is slated to release third-quarter 2026 earnings on Oct. 29, before the opening bell. The leading alcohol beverage company is likely to register year-over-year revenue and earnings growth when it reports quarterly numbers.
The Zacks Consensus Estimate for AB InBev’s quarterly revenues is pegged at $16.2 billion, suggesting a 7.3% rise from the year-ago quarter’s reported number. For third-quarter earnings, the consensus mark is pegged at $1.14 per share, indicating a 15.2% increase from the prior-year reported figure. The consensus estimate has dipped a penny in the past 30 days.
In the last reported quarter, the company’s earnings per share beat the Zacks Consensus Estimate by 11%. It has an earnings surprise of 6.3%, on average, in the trailing four quarters.
Factors Likely to Impact BUD’s Q3 Results
AB InBev’s third-quarter 2026 results are likely to reflect gains from premiumization, disciplined revenue management and brand momentum. The company’s premium and super-premium portfolio is anticipated to have remained a key growth catalyst. It is expected to have benefited from momentum across its megabrands, premium offerings and product innovations. Corona, Michelob Ultra and other leading brands are supporting growth through market-share gains and premiumization. A favorable product mix and growing demand for premium beers are expected to have driven revenue per hectoliter and profitability during the quarter under review.
BUD is focused on premium beer offerings aligning with consumer preferences in the alcohol industry. The ongoing shift toward premium offerings, complemented by innovation-led product launches, is likely to have helped sustain revenue growth. It continues to build a diverse portfolio of global, international, craft and specialty premium brands. The expansion of the Beyond Beer portfolio and investments in B2B platforms, e-commerce and digital marketing bode well.
AB InBev’s expanding presence in the Beyond Beer and non-alcoholic and ready-to-drink beverage portfolios is also likely to have contributed to third-quarter performance. These segments continue to gain traction as consumer preferences evolve and demand for differentiated beverage options rises. On the cost front, productivity initiatives and an efficient operating model are expected to have supported profitability. Continued cost-saving measures and operational efficiencies are likely to have partly offset pressures from foreign exchange volatility and elevated input costs. Our model anticipates normalized EBITDA to grow 4.1% year over year in third-quarter 2026.
On the flip side, persistent macroeconomic pressures and region-specific challenges are likely to have acted as deterrents. China's challenging operating environment remains a significant headwind, mainly due to adverse weather, subdued consumer spending and persistent weakness in the on-premise channel. Currency fluctuations and higher energy and logistics expenses are expected to also have affected the quarterly performance. Our model expects a year-over-year revenue decline of 3.6% in Asia Pacific.
Our proven model does not conclusively predict an earnings beat for AB InBev this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chance of an earnings beat. But that is not the case here. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
AB InBev has an Earnings ESP of -0.11% and a Zacks Rank of 3.
BUD’s Valuation Picture & Stock Performance
The stock has a forward 12-month price-to-earnings ratio of 17.58X compared with the five-year high of 22.58X and the Beverages - Alcohol industry’s average of 15.79X.
Image Source: Zacks Investment Research
The recent market movements show that BUD shares have gained 16% in the past six months compared with the industry's 14.5% growth.
Stocks With the Favorable Combination
Here are some companies, which according to our model, have the right combination of elements to beat on earnings this reporting cycle.
Newell Brands (NWL - Free Report) currently has an Earnings ESP of +2.26% and a Zacks Rank of 3. The company is likely to register growth in the top and bottom lines when it reports third-quarter 2026 numbers. The consensus mark for revenues is pegged at $1.9 billion, which indicates a rise of 2.5% from the figure reported in the year-ago quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Newell Brands' quarterly earnings per share of 20 cents implies a rise of 17.7% from the year-ago quarter. The consensus mark has increased a penny in the past 30 days. NWL has a trailing four-quarter earnings surprise of 40%, on average.
Brown-Forman Corporation (BF.B - Free Report) currently has an Earnings ESP of +0.05% and a Zacks Rank of 3. The company is likely to register growth in the top line when it reports second-quarter fiscal 2027 numbers. The consensus mark for revenues is pegged at $1.1 billion, which indicates a rise of 1% from the figure reported in the year-ago quarter.
The Zacks Consensus Estimate for Brown-Forman’s quarterly earnings per share of 46 cents implies a drop of 2.1% from the year-ago quarter. The consensus mark has been stable in the past 30 days. BF.B has a trailing four-quarter negative earnings surprise of 11.2%, on average.
Celsius Holdings, Inc. (CELH - Free Report) currently has an Earnings ESP of +4.00% and a Zacks Rank of 3. The company is likely to register an increase in the top line when it reports third-quarter 2026 numbers. The Zacks Consensus Estimate for CELH’s quarterly EPS is pegged at 34 cents, down 19.1% from the year-ago period. The consensus mark has been stable in the past 30 days.
The consensus estimate for Celsius’ quarterly revenues is pegged at $805.8 million, which implies an increase of 11.1% from the prior-year quarter. CELH has a trailing four-quarter negative earnings surprise of 28.5%, on average.
View the Zacks #1 Rank List
Image: Bigstock
AB InBev's Q3 Earnings on Deck: What Surprise Awaits Investors?
Key Takeaways
Anheuser-Busch InBev SA/NV (BUD - Free Report) , also known as AB InBev, is slated to release third-quarter 2026 earnings on Oct. 29, before the opening bell. The leading alcohol beverage company is likely to register year-over-year revenue and earnings growth when it reports quarterly numbers.
The Zacks Consensus Estimate for AB InBev’s quarterly revenues is pegged at $16.2 billion, suggesting a 7.3% rise from the year-ago quarter’s reported number. For third-quarter earnings, the consensus mark is pegged at $1.14 per share, indicating a 15.2% increase from the prior-year reported figure. The consensus estimate has dipped a penny in the past 30 days.
In the last reported quarter, the company’s earnings per share beat the Zacks Consensus Estimate by 11%. It has an earnings surprise of 6.3%, on average, in the trailing four quarters.
Factors Likely to Impact BUD’s Q3 Results
AB InBev’s third-quarter 2026 results are likely to reflect gains from premiumization, disciplined revenue management and brand momentum. The company’s premium and super-premium portfolio is anticipated to have remained a key growth catalyst. It is expected to have benefited from momentum across its megabrands, premium offerings and product innovations. Corona, Michelob Ultra and other leading brands are supporting growth through market-share gains and premiumization. A favorable product mix and growing demand for premium beers are expected to have driven revenue per hectoliter and profitability during the quarter under review.
BUD is focused on premium beer offerings aligning with consumer preferences in the alcohol industry. The ongoing shift toward premium offerings, complemented by innovation-led product launches, is likely to have helped sustain revenue growth. It continues to build a diverse portfolio of global, international, craft and specialty premium brands. The expansion of the Beyond Beer portfolio and investments in B2B platforms, e-commerce and digital marketing bode well.
AB InBev’s expanding presence in the Beyond Beer and non-alcoholic and ready-to-drink beverage portfolios is also likely to have contributed to third-quarter performance. These segments continue to gain traction as consumer preferences evolve and demand for differentiated beverage options rises. On the cost front, productivity initiatives and an efficient operating model are expected to have supported profitability. Continued cost-saving measures and operational efficiencies are likely to have partly offset pressures from foreign exchange volatility and elevated input costs. Our model anticipates normalized EBITDA to grow 4.1% year over year in third-quarter 2026.
On the flip side, persistent macroeconomic pressures and region-specific challenges are likely to have acted as deterrents. China's challenging operating environment remains a significant headwind, mainly due to adverse weather, subdued consumer spending and persistent weakness in the on-premise channel. Currency fluctuations and higher energy and logistics expenses are expected to also have affected the quarterly performance. Our model expects a year-over-year revenue decline of 3.6% in Asia Pacific.
Anheuser-Busch InBev SA/NV Price and EPS Surprise
Anheuser-Busch InBev SA/NV price-eps-surprise | Anheuser-Busch InBev SA/NV Quote
Earnings Whispers for BUD Stock
Our proven model does not conclusively predict an earnings beat for AB InBev this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chance of an earnings beat. But that is not the case here. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
AB InBev has an Earnings ESP of -0.11% and a Zacks Rank of 3.
BUD’s Valuation Picture & Stock Performance
The stock has a forward 12-month price-to-earnings ratio of 17.58X compared with the five-year high of 22.58X and the Beverages - Alcohol industry’s average of 15.79X.
Image Source: Zacks Investment Research
The recent market movements show that BUD shares have gained 16% in the past six months compared with the industry's 14.5% growth.
Stocks With the Favorable Combination
Here are some companies, which according to our model, have the right combination of elements to beat on earnings this reporting cycle.
Newell Brands (NWL - Free Report) currently has an Earnings ESP of +2.26% and a Zacks Rank of 3. The company is likely to register growth in the top and bottom lines when it reports third-quarter 2026 numbers. The consensus mark for revenues is pegged at $1.9 billion, which indicates a rise of 2.5% from the figure reported in the year-ago quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Newell Brands' quarterly earnings per share of 20 cents implies a rise of 17.7% from the year-ago quarter. The consensus mark has increased a penny in the past 30 days. NWL has a trailing four-quarter earnings surprise of 40%, on average.
Brown-Forman Corporation (BF.B - Free Report) currently has an Earnings ESP of +0.05% and a Zacks Rank of 3. The company is likely to register growth in the top line when it reports second-quarter fiscal 2027 numbers. The consensus mark for revenues is pegged at $1.1 billion, which indicates a rise of 1% from the figure reported in the year-ago quarter.
The Zacks Consensus Estimate for Brown-Forman’s quarterly earnings per share of 46 cents implies a drop of 2.1% from the year-ago quarter. The consensus mark has been stable in the past 30 days. BF.B has a trailing four-quarter negative earnings surprise of 11.2%, on average.
Celsius Holdings, Inc. (CELH - Free Report) currently has an Earnings ESP of +4.00% and a Zacks Rank of 3. The company is likely to register an increase in the top line when it reports third-quarter 2026 numbers. The Zacks Consensus Estimate for CELH’s quarterly EPS is pegged at 34 cents, down 19.1% from the year-ago period. The consensus mark has been stable in the past 30 days.
The consensus estimate for Celsius’ quarterly revenues is pegged at $805.8 million, which implies an increase of 11.1% from the prior-year quarter. CELH has a trailing four-quarter negative earnings surprise of 28.5%, on average.