Anheuser-Busch InBev reported quarterly results that outperformed analyst expectations across several key measures, saying it remains on track to expand profits faster than some rivals in 2026. The world's largest beer company recorded a 2.3% rise in organic operating profits for the fourth quarter, above the 1.4% increase analysts had anticipated.
AB InBev repeated its annual guidance for 2026 of organic profit growth between 4% and 8%. The company contrasted that outlook with forecasts from Heineken and Carlsberg, which it said expect up to 6% growth in 2026.
On the top line, AB InBev delivered 2.5% organic revenue growth for the quarter, ahead of the 1.5% rise expected by analysts. The brewer's volumes, which remain a focus for the industry amid weak demand for beer, declined by 1.5% in the quarter - a smaller drop than the 2.7% decline that had been forecast.
Management highlighted substantial commercial investment during the period, disclosing $7.4 billion spent on sales and marketing. The company said it had either gained or maintained market share in two-thirds of the markets where it operates.
Looking toward 2026, AB InBev said it anticipates benefiting from a calendar that includes several large global events. The company identified the Super Bowl, the Winter Olympics and the FIFA World Cup as events that should support its results in the year ahead.
Analyst-style context - The outperformance on organic operating profit and revenue, combined with a smaller-than-expected volume decline, suggests AB InBev navigated a weak demand environment more effectively than peers in the quarter. Large-scale sales and marketing spending and share gains in a majority of markets were cited as drivers of the stronger outcome.
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The quarter's results and the reiterated 2026 guidance will be focal points for investors assessing AB InBev's ability to convert large commercial investments and event-driven demand into sustained profit growth.