AB InBev 1Q26 underlying EPS climbs 20.8% to USD 0.97; revenue rises 5.8% to USD 15.27 billion

• AB InBev posted 1Q26 profit attributable to equity holders up 19.3% to USD 2.56 billion, with basic EPS rising to USD 1.3.
• Revenue climbed 12% to USD 15.27 billion, while total volumes edged up 0.8% with beer volumes up 1.2%.
• Normalized EBITDA increased 5.3% to USD 5.44 billion, with margin down 0.15 percentage point to 35.6%.
• Growth updates included BEES Marketplace GMV up 55% to USD 1.1 billion, no-alcohol beer revenue up 27%, and Beyond Beer revenue up 37%.
• CEO Michel Doukeris said momentum continued across most zones and AB InBev reiterated FY26 EBITDA growth outlook of 4%-8%.

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