Anheuser-Busch InBev reports global sales in the third quarter rose 12.1% with revenue per hectoliter up 8%, but underlying net profit fell 1% to $1.68 billion, or 84 cents a share.
The revenue figure reflects a 12.7% increase in the combined sales of the company's global brands -- Budweiser, Stella Artois and Corona (ourside the U.S.). Tital volume grew 3.7%; ABI's own beer brand volumes were up 3.4% and non-beer volumes were up 5.2%.
In the U.S., ABI said revenue grew 1.9% with revenue per hectoliter increasing 3.8%. Sales-to-wholesalers were down 1.8% and sales to retailers were off 1.7%, "estimated to be below the industry." with September volumes benefiting from shipment phasing ahead of our October price increase.
ABI said the beer industry "remains resilient even in the context of an ongoing inflationary environment. We continue to progress on oour commercial strategy to rebalance our portfolio with our above core beer and Beyond Beer brands now generating about 40% of our revenue.
"Our above core peer portfolio outperformed the industry this quarter, led by Michelob Ultra, which grew double-digits and complemented by growth in Stella Artois, Kona Big Wave and Estrella Jalisco. In Beyond Beer, our spirits-based ready-to-drink portfolio continued to outperform the industry, led by Cutwater," the No. 1 spirits-based cocktail in the country, and NUTRL vodka seltzer which both grew strong double-digits."