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Name | Symbol | Market | Type |
---|---|---|---|
Anheuser Busch Inbev SA NV | NYSE:BUD | NYSE | Depository Receipt |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.26 | 0.43% | 60.20 | 60.36 | 59.86 | 59.98 | 1,159,616 | 00:34:17 |
By Ian Walker
The world's biggest brewer, Anheuser-Busch InBev SA said Thursday that it lost $170 million in profits during the first two months of 2020 because of the coronavirus epidemic as it reported a fall in net profit.
The company--which houses Budweiser, Stella Artois and Corona among its brands--said it estimates the loss of revenue in the period is $285 million due to the Covid-19 epidemic and that it continues to monitor developments.
The company made a net profit for the quarter ended Dec. 31, 2019 of $114 million compared with $456 million for the comparable period last year.
Revenue for the quarter fell to $13.33 billion compared with $13.79 billion for the comparable period in 2018 and forecasts of $13.67 billion, taken from FactSet and based on 10 analysts' estimates.
Normalized earnings before interest, taxes, depreciation and amortization--one of the company's preferred metrics which strips out exceptional and other one-off items--was $5.34 billion, compared with $6.02 billion and a forecast of $5.69 billion, taken from FactSet and based on seven analysts' forecasts.
The company said total beer volume rose 1.6% to 142 million hectoliters. In North America total beer volumes rose 2.8%, it said.
The board has kept the final dividend at EUR1 a share, taking the total payout for the year to EUR1.80 .
Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
February 27, 2020 01:42 ET (06:42 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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