Berenberg Tweaks AB InBev Estimates After Q2 Results Top Expectations

12:09 PM EDT, 07/31/2026 (MT Newswires) -- Berenberg updated its estimates for Anheuser-Busch InBev (ABI.BR, ANH.JO), d/b/a AB InBev, after the Belgium-headquartered brewer reaffirmed its 2026 outlook and posted second-quarter results that surpassed consensus estimates in all key metrics. "Regional performance was strongest in South and Middle Americas, with volumes up 1.4% and 4.7% respectively, driven by record-high Q2 beer volumes in Mexico and Colombia, as well as Brazil up 5.0% (gaining share in an improved industry). Asia-Pacific remained soft, with volumes down 4.7% driven by China down 9.7% due to adverse weather and continued on-premise weakness," analysts said in a note published Friday. "Management struck a confident tone, pointing to several structural growth engines that should support the outlook well beyond FY 2026. Emerging markets remain a core driver, with management expecting around 70% of industry volume growth to come from the region, given population and economic tailwinds." The research firm increased its 2026 EPS and EBIT forecasts by 5.3% and 3.5%, respectively, amid a model update to also reflect currency moves, while the 2027 estimates for both metrics were trimmed. Sales projections for 2026 through 2028 were bumped up. The stock's buy rating and 89 euro price target remain unchanged.