AB InBev Posts Q4 Profit After Averting Strikes, But Weak US Sales Drag Down Results
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Anheuser-Busch InBev posted a profit in Q4 results after reaching a tentative deal to avoid strikes at 12 US breweries. Quarterly revenue rose 6.2% but missed expectations due to weak US sales.
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Full-year revenue grew 7.8% but volume declined 1.7% more than expected due to poor Bud Light performance after backlash over 2023 ad campaign.
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AB InBev is providing financial assistance to partners and forging sports partnerships to market brands as it aims to regain US market share into 2024.
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AB InBev reached a tentative 5-year deal with Teamsters union after 99% voted to strike over wages, benefits, and working conditions.
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Rival Molson Coors still faces a strike at one Texas brewery but says it has contingency plans to fulfill demand with inventory and extra capacity.