Yahoo Finance Anheuser-Busch InBev SA/NV (NYSE:BUD) Q1 2024 Earnings Call Transcript
Anheuser-Busch InBev SA/NV (NYSE:BUD) Q1 2024 Earnings Call Transcript May 8, 2024
Anheuser-Busch InBev SA/NV isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).
Operator: Welcome to Anheuser-Busch InBev's First Quarter 2024 Earnings Conference Call and Webcast. Hosting the call today from AB InBev are Mr. Michel Doukeris, Chief Executive Officer; and Mr. Fernando Tennenbaum, Chief Financial Officer. To access the slides accompanying today's call, please visit AB InBev's website at www.ab-inbev.com and click on the Investors tab and the Reports and Results Center page. Today's webcast will be available for on-demand playback later today. At this time, all participants have been placed in a listen-only mode and the floor will be open for your questions following the presentation. [Operator Instructions] Some of the information provided during the conference call may contain statements of future expectations and other forward-looking statements.
These expectations are based on management's current views and assumptions and involve known and unknown risks and uncertainties. It is possible that AB InBev's actual results and financial condition may differ, possibly materially from the anticipated results and financial condition indicated in these forward-looking statements. For a discussion of some of the risks and important factors that could affect AB InBev's future results, see Risk Factors in the company's latest Annual Report on Form 20-F filed with the Securities and Exchange Commission on the 11th of March 2024. AB InBev assumes no obligation to update or revise any forward-looking information provided during the conference call and shall not be liable for any action taken in reliance upon such information.
It is now my pleasure to turn the floor over to Mr. Michel Doukeris. Sir, you may begin.
Michel Doukeris: Thank you, and welcome, everyone, to our first quarter 2024 earnings call. It is a great pleasure to be speaking with you all today. Today, Fernando and I will take you through our first quarter operating highlights and provide you with an update on the progress we've made in executing our strategic priorities. After that, we'll be happy to answer your questions. Let's start with our operating performance and the key highlights for the quarter. We are encouraged by our continued momentum and results to start the year. We delivered broad-based top line and bottom-line growth with market share gains and volume increases in the majority of our markets. Our megabrands led our growth with 6.7% net revenue increase.
EBITDA increased by 5.4%, in line with our medium-term growth ambition and 2024 outlook, with operational efficiencies driving margin expansion of 90 basis points this quarter. As we continue to optimize our business, underlying U.S. dollar EPS grew by 16%, driven by nominal EBITDA growth and improved net finance costs. The digital transformation of our business provides opportunities to generate additional profitability and revenue streams. This quarter, this marketplace continued to expand, delivering $465 million in gross merchandising value of non-API products, a 47% increase versus last year. While it is only the first quarter of the year, we are pleased with our start and are uniquely positioned to activate the category in 2024 through our megabrands and mega platforms.
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