Global brewing giant AB InBev has reported a strong start to the year, with a notable shift in consumer habits seeing more people opting for non-alcoholic and alternative drinks.
Company revenue increased by 5.8% in the first quarter of 2026, with growth supported by 4.5% increase in revenue per hectolitre. A trend in the results is the notable rise in demand for alcohol-free beverages.
Revenue from no-alcohol beer increased by 27%, while the Beyond Beer portfolio increased by 37%.
‘Solid start to the year’
“Our business delivered a solid start to the year, with broad-based volume growth and a 20.8% increase in underlying EPS (earnings per share) to reach $0.97, a record high for the first quarter,” the company said.
Traditional beer brands still showed resilience, with volumes up by 1.2% and strong performances in markets including Mexico, Colombia, Brazil, South Africa and Peru.
The brewer’s biggest brands also continued to perform well as combined revenues of megabrands increased by 8.2%, led by Corona, which grew by 16% outside its home market.
Stella Artois and Michelob Ultra also showed strong gains of 14% and 39% respectively outside their home markets.
“Megabrand momentum, innovation in Balanced Choices and acceleration of our Beyond Beer portfolio drove top- and bottom-line growth in four of our five zones and we estimate to have gained or maintained market share in 75% of our markets,” the company said.
The group’s digital platform also contributed to growth, with Gross Merchandise Value from third-party sales on its BEES Marketplace rising by 55% to reach $1.1-billion.
Earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 5.3%, despite pressure from currency fluctuations. The company said careful cost management helped support increased spending on marketing and sales.
Looking ahead, AB InBev expects EBITDA to grow between 4% and 8% for the full year, in line with its medium-term outlook, although it warned that inflation and broader economic conditions remain uncertain.
- AB InBev reported a strong Q1 2026 with 5.8% revenue growth and a 20.8% increase in underlying EPS to a record $0.97.
- Demand for non-alcoholic drinks surged, with no-alcohol beer revenue up 27% and the Beyond Beer portfolio up 37%.
- Traditional beer volumes rose 1.2%, led by strong performances in markets like Mexico, Colombia, Brazil, South Africa, and Peru.
- Megabrands Corona, Stella Artois, and Michelob Ultra grew significantly outside home markets by 16%, 14%, and 39% respectively.
- EBITDA grew 5.3% despite currency pressures; the company expects full-year EBITDA growth of 4%-8%, but inflation and economic uncertainty remain risks.
Global brewing giant AB InBev has reported a strong start to the year, with a notable shift in consumer habits seeing more people opting for non-alcoholic and alternative drinks.
Revenue from no-alcohol beer increased by 27%, while the
“Our business delivered a solid start to the year, with broad-based volume growth and a 20.8% increase in underlying EPS (earnings per share) to reach $0.97, a record high for the first quarter,” the company said.
Traditional beer brands still showed resilience, with volumes up by 1.2% and strong performances in markets including Mexico,
Stella Artois and Michelob Ultra also showed strong gains of 14% and 39% respectively outside their home markets.
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