Anheuser-busch Reports First Sales-volume Increase In Three Years

A proverbial ladybug just landed on the cracking-a-cold-one business: The number of drinks sold by Anheuser-Busch, the world’s largest brewer, increased last quarter for the first time in three years, the company reported yesterday, surprising analysts and suggesting that a broader chill in the beer industry may be thawing.

“Cheers to beer,” AB InBev CEO Michel Doukeris said of the promising results, which also included better-than-expected 12% revenue growth. Major gains in Latin American markets drove the beer beat:

• The brewer’s Brazil unit notched record growth in sales volumes, sending shares of the Sao Paulo-listed subsidiary soaring by their most in almost 27 years.
• AB InBev, which owns Corona and Modelo (except in the US), also exceeded expectations in Mexico, overtaking rival Heineken in the region.

But…that wasn’t enough to turn beer sales positive for the whole continent. In what could be interpreted by Big Ten students as a challenge, overall North American beer sales continued to fall, as persistent inflation and shifting health trends kept US shoppers away from the alcohol aisle.

Good thing AB InBev has expanded into beer that doesn’t get you drunk—revenue from its non-alcohol beverages jumped 27% in the quarter.

Sign of the imbibing times?

Along with AB InBev…

• The Danish brewer Carlsberg recently reported that its beer volumes turned positive after rolling downhill last year.
• Heineken’s total volumes also grew last quarter after falling in 2025, but the breakthrough was buoyed by sales of mixers and ciders. Heineken’s beer volumes actually fell from the same time last year.

Looking ahead…AB InBev said it’ll beat out both of those rivals this year. Much like other brewers, the company that slings Budweiser, Bud Light, Stella Artois, and Michelob Ultra—now the best-selling beer in the US—expects a significant summertime boost from World Cup festivities.—ML