Brewer Anheuser-Busch Cos. Inc. (BUD), which in July agreed to be acquired by Belgian rival InBev SA (INBVF.PK) for $52 billion, said on Friday that it expects a low double-digit increase in its third-quarter pre-tax income before one time items. The company also continues to expect a decline in equity income for the full year.
For the second quarter, Anheuser-Busch's net earnings were up 1.8% to $689.2 million.
The company said it achieved good U.S. beer volume growth in the third quarter. The company's U.S. beer shipments-to-wholesalers increased 2.3% in the quarter, with a 3.6% rise in sales-to-retailers, driven by the successful introduction of Bud Light Lime nationwide. In the U.S., the pricing environment also continues to be favorable, the company noted.
Anheuser-Busch also expects revenue per barrel to increase nearly 4% in the third quarter, including favorable brand mix. The company said it has started implementing its previously planned 2009 price increase plan in the second half of September. Over 85% of the company's U.S. beer volume has been covered by the pricing actions by October 1.
Further, Anheuser-Busch said that commodity cost pressures continue, but are being mitigated by its Blue Ocean cost savings initiatives. Cost of goods sold per barrel for the U.S. beer company is expected to increase slightly less than revenue per barrel in the third quarter, yielding gross margin expansion in the period.
In addition, the company foresees a mid-single digit increase in its third-quarter international beer volume with pre-tax profits excluding equity income rising over 20%. The company also expects that pre-tax income in its packaging segment will be up in the mid-teens, while entertainment profits will be somewhat down.
The company's consolidated marketing, distribution and administrative expenses for the quarter are expected to be up in the mid-single digits.
Meanwhile, InBev, the world's second-largest beer maker, said earlier today that it expects third-quarter total revenues to grow in the high single digit percentage and mid single digit percentage range on a per hectoliter basis.
The company also anticipates total volumes as well as its own beer volumes to increase in the low single digit percentage range in the quarter. InBev said its global brands Beck's and Stella Artois are growing in the low single digit percentage range. The company also stated that it is committed to achieving revenue growth in excess of volume growth.
InBev, which currently dominates the Latin American beer market, owns only about 1% of the beer volume in the U.S. market. Meanwhile, Anheuser-Busch holds 48.5% of the beer sales in the U.S. market.
Upon the completion of the acquisition, Anheuser-Busch will become a wholly owned subsidiary of InBev. The combined entity will be geographically diversified, with leading positions in the world's top five markets, China, U.S., Russia, Brazil and Germany. InBev's shareholders have approved the Anheuser-Busch acquisition earlier this week.
BUD is trading at $64.87, up $0.29, on a volume of 4.89 million shares.
INBVF.PK closed Thursday's trading at $57.85.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.