Bud Light continues to be a drag on Anheuser-Busch InBev’s bottom line in the United States, but the world’s biggest brewer saw its global revenue rise and beating expectations.
Bud Light continues to drag Anheuser-Busch InBev’s bottom line in the United States, but the world’s biggest brewer’s sales rose because of higher prices. The company reported a 13.5% decline in third-quarter US revenue per 100 liters, a key measure of beer sales, as an ongoing backlash to Bud Light continues. The brand’s customers turned their backs on Bud Light after the company partnered with a transgender influencer – and then muddled its response.
According to the company’s research, over 40% of lapsed Bud Light customers said they’re willing to give the brand another chance, said AB InBev CEO Michel Doukeris during a Tuesday analyst call discussing the company’s third-quarter results. “This gives us some certainty that we are moving in the right direction,” he said, noting that the brand’s performance has been improving. “We have a good grip on what we need to do and how we are proceeding from here.
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