Anheuser-Busch InBev : Too severely punished for softness in just 20% of the portfolio; Outperform
>Q3 2024 miss predominantly due to Mexico and China - ABI’s organic volume, revenue and EBITDA growth all missed estimates materially in Q3 2024. Zooming in on the regions, we conclude that the miss was predominantly due to key markets Mexico (c. 13% of group revenue), and China (c. 8% of group revenue). That said, other key markets outperformed expectations (i.e., the US with c. 22% of group revenue), or kept their positive momentum (i.e., Brazil with c. 16% of group...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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