AB InBev and Carlsberg Report Q3 Volume Declines

In the third quarter, brewing giants AB InBev and Carlsberg reported declines in beer volumes, primarily due to challenging consumer sentiment in key markets like China. AB InBev experienced a 2.4% drop in volumes and missed sales estimates, despite seeing a 2.1% increase in organic revenue, bolstered by strong performance from its premium brands, particularly Corona, which surged by 10.2% outside Mexico. Carlsberg also faced a volume decline of 0.2%, attributing it to weak consumer demand and adverse weather in Europe. Both companies acknowledged that inflation and economic pressures have led consumers to opt for cheaper beer options. Despite these challenges, AB InBev announced a $2 billion stock buyback program and raised its full-year growth outlook, while Carlsberg maintained its revenue guidance amidst ongoing strategic adjustments. The overall outlook for the beer market remains cautious as both companies navigate a tough economic landscape.