AB InBev Notes Slowest Volume Decline Since 2020, Confident on 2026 Growth
AB InBev reported Q4 global beer volumes fell at the slowest pace since 2020, with volume declines narrowing to high-single-digit rates driven by recovery in North America and Latin America. Management reiterated 2026 targets of high-single-digit organic revenue growth and €2.5 billion in cost savings, expecting volume declines to ease below 1%.
1. Q4 Performance Highlights
AB InBev said Q4 global beer volumes declined in the high-single digits year over year, marking the slowest contraction since 2020. Organic revenue growth outpaced volumes, supported by pricing actions and improved on-premise demand in North America and Latin America markets.
2. 2026 Outlook and Guidance
For 2026, management maintained targets of high-single-digit organic revenue growth and narrowed volume decline to below 1%. The company plans to deliver €2.5 billion in additional cost savings through supply-chain efficiencies and overhead reductions to underpin margin expansion.