KEY TAKEAWAYS
- Anheuser-Busch InBev shares slipped over 3percent on Thursday, after its fourth quarter earnings across the U.S. dropped 17.3% in comparison to the previous year.
- The company behind the beer said that it was because of a drop of Bud Light volume following a protest against the company.
- Bud Light had been the nation’s top-selling beer prior to the brand’s alliance that it had with social media transgender personality Dylan Mulvaney last spring.
- Anheuser-Busch InBev also announced it increased its dividend per year by 9.9%..
Anheuser-Busch InBev ( BUD) shares were down more than 3percent on Thursday, after it reported that its fourth-quarter revenues across the U.S. dropped 17.3% over the same period last year, and the sales-to-retailers (STRs) declining 12.1 percent, mostly due to the decline of Bud Light volume following a decision to boycott the company. 1
The total revenue increased 6.2 percentage points in the range of $14.47 billion. This was lower than forecasts. The volume dropped 2.6 percentage in the beer sector, while non-beer volumes fell 3.6 percentage and the volume of other beverages increasing by 3.3%. Profit per share was 82 cents. surpassed expectations.
Bud Light was the first American beer to be a top seller. Bud Light lost the title to Constellation Brands’ ( STZ) Modelo Especial following the company’s collaboration with the transgender social media influencer Dylan Mulvaney last spring.
The brewery has tried to re-engage customers by running advertising during sporting events like Super Bowl, Super Bowl, and concerts. The CEO Michel Doukeris told analysts that the beverage is slowly recovering U.S. market share since the beginning of May. The company announced that its board of directors approved a 9.9% boost in the annually paid dividend in the amount of 0.82 euro (89 cents) per share.
Anheuser-Busch added that they has reached an agreement in principle in a tentative agreement with the Teamsters union in order to prevent the possibility of a strike among 5 000 U.S. employees. 2.
Anheuser Busch InBev shares fell 3.3 percent to $60.37 on Thursday, following the announcement.