<p>Anheuser-Busch (NYSE: BUD) revenues for the alcohol company’s fourth quarter 2019 have BUD shares hitting on Thursday. That’s due to the 87-cent adjusted earnings per share (EPS) that lacks the Wall Street estimate of $ 1.05. Its revenue of $ 13.33 billion is also below analysts’ estimates of $ 13.93 billion.
Source: legacy1995 / Shutterstock.com
Let’s take a closer look at the latest Anheuser-Busch results report.
Adjusted earnings for the quarter were 25.64% lower than $ 1.17 from the same time last year. Revenue decreased by 3.34% from $ 13.79 billion reported in the fourth quarter of 2018. Gross profit was $ 8.07 billion, which is 7.56% below $ 8.73 billion over the same period last year. Anheuser-Busch’s earnings report also includes a net profit of $ 474 million. This is a decrease of 43.57% from the company’s net profit of $ 840 million during the fourth quarter last year.
Anheuser-Busch’s earnings report contained this announcement for holders of BUD shares:
“Our development in 2019 was below our expectations and we are not satisfied with the results. There were many successes, but we also faced many challenges. We understand that in order to achieve our ambitious goals, we must embrace these challenges and turn them into opportunities for success. ”
Anheuser-Busch’s earnings report does not include the outlook for 2020. Nevertheless, we know what Wall Street expects. Analysts are looking for adjusted earnings per share of $ 4.37 on revenue of $ 54.25 billion during the year.
The BUD share fell 8.31% as of Thursday afternoon.
At the time of writing, William White had no position in any of the above securities.
Article printed from InvestorPlace Media, https://investorplace.com/2020/02/anheuser-busch-earnings-dump-bud-stock/.
© 2020 InvestorPlace Media, LLC