Why Anheuser-Busch InBev Stock Partied Today
Beverage giant Anheuser-Busch InBev (NYSE: BUD) reported its third-quarter results this morning, and investors are cheering. As of 3:20 p.m. EDT, AB InBev shares remained up 9.2% after gaining almost 13% at the peak of the day.
The quarterly results from the brewer exceeded expectations and led the company to boost full-year guidance. Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose by 3% year over year, and the company raised the low end of its EBITDA guidance range for the year. CEO Michel Doukeris told investors that the quarterly performance and continued momentum allowed the company to push its 2021 EBITDA growth outlook to a range of 10% to 12%, raising the low end from the previous 8%.
Source Fool.com
