Home
Menu
Top industry news
Brewery news
Malt news
Barley news
Hops news
More news
All news
Search news archive
Publish your news
News calendar
News by countries


#
E-Malt.com News article: 614

Anheuser-Busch Cos. Inc., the world's largest brewer, has announced on February 5th a higher fourth-quarter profit led by two new products and increased prices on its top-selling beers. The company introduced low-carbohydrate beer Michelob Ultra and citrus-flavoured malt drink Bacardi Silver in 2002 Anheuser-Busch Cos. Inc. expects earnings per share to grow 12 percent this year and in the first quarter, slightly below the average expectations on Wall Street, the company reported

Anheuser-Busch, whose beers include Bud Light and Budweiser, started to raise prices on some drinks last October in markets representing almost 45 percent of its domestic volume. "Probably the biggest surprise was that pricing was a bit higher," said Banc of America analyst Bryan Spillane. "The pricing environment really continues to be outstanding," Chief Financial Officer W. Randolph Baker said during the call with analysts. He rates Anheuser-Busch a "hold" and does not own the shares.

Anheuser-Busch expects revenue per barrel to grow 2 percent to 2.5 percent in 2003, with first-quarter results in line with that forecast, Baker said. He also said first-quarter growth would be hampered by Easter falling in the second quarter of 2003 instead of in the first quarter, like it did in 2002. The company forecast its domestic volume to be up 1.5 percent to 2 percent in 2003, with overall industry growth of 1 percent to 1.5 percent, in line with analysts' forecasts. Anheuser-Busch said it earned $269 million, or 32 cents per share in the fourth quarter, up from $228 million, or 26 cents, a year earlier.

Analysts on average forecast a first-quarter profit of 58 cents a share, compared with 51 cents a year ago, a 13.7 percent increase, according to Thomson First Call.


06 February, 2003

   
| Mail your friend | Printer friendly |
Copyright © E-Malt s.a., 2001-2008