|Bid||0.00 x 1800|
|Ask||0.00 x 1200|
|Day's range||42.08 - 44.26|
|52-week range||32.58 - 102.70|
|Beta (5Y monthly)||1.05|
|PE ratio (TTM)||9.71|
|Forward dividend & yield||2.01 (4.66%)|
|Ex-dividend date||18 Nov 2019|
|1y target est||71.07|
The world's largest brewer AB InBev has scrapped its 2020 outlook as the scale of the coronavirus crisis has increased. The Belgium-based maker of Budweiser, Stella Artois and Corona had forecast at the end of February that core profit would fall by 10% in the first quarter. At the time, the coronavirus crisis was largely confined to China. But as the scale of COVID-19 has increased, so too have the restrictions imposed on many customers, including social distancing measures in scores of countries and the closure of bars and restaurants. It's not the only drinks group under pressure. French spirits maker Pernod Ricard also warned on Tuesday of a hit of around 20% to its current operating profit. Pernod is the biggest international spirits maker in China, and the world's second-biggest behind Diageo. It had already cut its full-year outlook, but says it is in a solid financial position to be able to cope with the impact of the outbreak - with 3.7 billion dollars available in credit lines.
Australia's Competition and Consumer Commission (ACCC) said on Wednesday it has approved the deal after Asahi gave a court-enforceable undertaking to sell AB InBev's Stella Artois and Beck's beer brands and the Strongbow, Bonamy's and Little Green cider brands. An Asahi spokesman confirmed that the company agreed to the divestments for its planned purchase of Carlton & United Breweries (CUB).
AB InBev (BUD) has withdrawn 2020 guidance, following the rising scale and magnitude of COVID-19, which led to shutdowns, social distancing, travel bans and other limitations in many countries.
Anheuser-Busch InBev, the world's largest brewer, said on Tuesday it was scrapping its 2020 outlook as the scale of the coronavirus increased. The Belgium-based maker of Budweiser, Stella Artois and Corona had forecast at the end of February that core profit (EBITDA) would decline by 10% in the first quarter and by between 2 and 5% for the full year. "Given the uncertainty, volatility and fast-moving developments of the pandemic in the markets in which AB InBev operates, the company is withdrawing that 2020 outlook in its entirety because of the impact of COVID-19," it said.
Anheuser-Busch InBev , the world's biggest beer maker, and Diageo, the world's largest distiller, pledged on Monday to donate million litres of alcohol to make hand sanitisers and disinfectants to help fight the coronavirus pandemic. Diageo said it would donate 2 million litres of grain neutral spirit - a 96% ethyl alcohol used mainly for vodka and gin - to help manufacturers make more than 8 million 250 ml bottles of sanitisers that are in short supply in countries worst hit by coronavirus.
Diageo (DEO) is among the companies that have warned of impacts from the coronavirus on its results. However, its sound fundamentals may help it rebound when conditions improve.
Stamps.com, Anheuser-Busch InBev, The Rubicon Project, Mitek Systems and Digital Turbine highlighted as Zacks Bull and Bear of the Day
Constellation Brands (STZ) clarifies to investors that its fiscal 2020 sales remain unaffected by the coronavirus outbreak in China due to less international exposure.
AB InBev's (BUD) fourth-quarter 2019 earnings lag estimates on soft revenues and higher cost of sales. The company expects the coronavirus outbreak in China to hurt results in first-quarter 2020.
The world's largest brewer Anheuser-Busch InBev forecast a 10% decline in first-quarter profit on Thursday after the coronavirus outbreak hit beer sales during the Chinese New Year, sending its shares skidding. The maker of Budweiser, Corona and Stella Artois said the virus had led to a significant decline in demand in China - both at bars and drinking at home, notably during the Chinese New Year. The outbreak, along with an expected weaker Brazilian market, could lead to a 10% drop in first-quarter core profit (EBITDA) on-year, AB InBev said, adding that it expected 2020 core profit growth of between 2% and 5%, with most expansion occurring in the second half.
In a busy day for earnings announcements, investors will be paying close attention to reports from big box retailer Best Buy and Beyond Meat
AB InBev's (BUD) Q4 results might reflect strength in global brands and the benefits of ongoing premiumization efforts. Soft beer demand and cost inflation are likely to have hurt performance.