Severe Weakness in Brazil Causes AB InBev to Miss in Q3, but Long-Term Drivers Remain Intact
For the second consecutive quarter, AB InBev suffered severe weakness in Brazil that caused consolidated earnings to undershoot our expectations. Management has slightly lowered revenue guidance and is now unlikely to meet our full-year estimates, and we have trimmed our margin forecasts for 2016. Nevertheless, we expect the company's wide economic moat to ensure that current headwinds are temporary. We are maintaining our long-term assumptions of 4.5% organic revenue growth and a near-39% opera...Anheuser-Busch Inbev is engaged in the brewing of beer. Co. manages a portfolio of well over 200 brands that includes brands such as Budweiser, Stella Artois and Beck's; multi-country brands such as Leffe and Hoegaarden; and other brands such as Bud Light, Skol, Brahma, Quilmes, Michelob, Harbin, Sedrin, Klinskoye, Sibirskaya Korona, Chernigivske and Jupiler. Co. also produces and distributes soft drinks, particularly in Latin America. Co.'s operations are organized along seven business segments: North America, Mexico, Latin America North, Latin America South, Europe, Asia Pacific and Global Export & Holding Companies.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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