Anheuser-Busch Cos. Inc. has reported that third quarter 2007 net sales increased 7.9% and diluted earnings per share (excluding normalization items in 2007) increased 15.9%.
For the nine months of 2007, net sales increased 5.7% and diluted earnings per share (excluding normalization items in both years) improved 9.3%.
Said August A Busch IV, president and chief executive officer of the company: "Sales volume and revenue growth in our US beer business benefited from our broadened beer portfolio, with greater participation in the high end segment."
"The wholesaler transition and supply issues we encountered earlier this year regarding the InBev European brands have been resolved.”
“Earnings contribution from our international segment accelerated, led by Grupo Modelo. And we continue to expect the company's 2007 earnings per share increase to exceed our long term growth target of 7-10%."
Consistent with the pattern in recent years, Anheuser-Busch plans to implement price increases on the majority of its US beer volume in early 2008, with increases in several states in the fourth quarter 2007. As in the past, pricing initiatives will be tailored to selected markets, brands and packages.
International volume, consisting of Anheuser-Busch brands produced overseas by company-owned breweries and under license and contract brewing agreements, plus exports from the company's US breweries, increased 8.2% for the third quarter and 6.1% for the nine months of 2007.
These increases are primarily due to increased volume in China, Mexico and Canada in both periods, partially offset by lower volume in the UK year-to-date.
Worldwide Anheuser-Busch brands volume, comprised of domestic volume and international volume, increased 3.2% for the third quarter and 2.4% for the nine months of 2007 to 35.1 million and 99.5 million barrels, respectively.
Equity partner brands volume grew 7.6% and 6.4%, respectively, for the third quarter and nine months of 2007 due to Modelo and Tsingtao volume growth.
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