AB InBev Q2 sales rise 5.6% to US$1.67B
The brewer recorded strong performances in Latin America, while international demand for its flagship brands accelerated following the FIFA World Cup.
BELGIUM – AB InBev reported a 5.6% increase in second-quarter sales for 2026 as strong international demand for brands such as Corona, Stella Artois and Michelob Ultra helped drive revenue growth across key markets.
The world’s largest brewer also reported a 5.8% increase in earnings before interest, taxes, depreciation and amortisation (EBITDA), supported by effective cost management and continued investment in marketing activities.
Free cash flow increased by US$2.5 billion during the first half of the year to reach US$3.9 billion as the company focused on operational efficiency and business optimisation initiatives.
Underlying profit rose to US$2.39 billion in the second quarter, compared with US$1.95 billion in the corresponding period last year. For the first half of 2026, underlying profit increased to US$4.31 billion from US$3.56 billion in the previous year.
Total volumes rose by 0.9% during the quarter, with beer volumes increasing by 1.1%, while non-beer volumes declined by 1.1%.
AB InBev said its flagship global brands continued to gain momentum outside their domestic markets. Revenue generated by Corona, Stella Artois and Michelob Ultra increased by 17%, 19% and 21%, respectively.
“The momentum of our business continued in Q2 2026,” the company said in a statement.
The brewer attributed part of this growth to the increased visibility generated by the FIFA World Cup, where the company served as one of the tournament’s leading global sponsors.
Chief executive officer Michel Doukeris said the results highlighted the continued strength of the beer market and the effectiveness of the company’s growth strategy.
“Cheers to beer – our performance this quarter reflects the strength of the beer category and the consistent execution of our strategy. Through investment in our megabrands and mega platforms, innovation and offering more choices across more occasions, we are strengthening the cultural relevance of our brands with consumers,” Doukeris said.
Beer volumes reached record levels in Mexico, Colombia and Ecuador, while sales returned to growth in Brazil, one of the brewer’s largest markets.
In the United States, shipments to retailers and wholesalers declined as consumers reduced spending or shifted to spirits and ready-to-drink beverages. However, AB InBev said it continued to outperform the broader industry.
The company also reported weaker demand in China, where market conditions remain challenging amid declining consumption trends.
Looking ahead, AB InBev said it expects EBITDA growth for the 2026 financial year to remain within its medium-term target range of between 4% and 8%, subject to inflationary pressures and broader macroeconomic conditions.
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