Brazil brewer Ambev posts higher-than-expected Q1 net profit (updated)

Ambev SA

08/05/2024 07:31

(Adds details)
       May 8 (Reuters) - Brazilian brewer Ambev SA  ABEV3.SA 
reported a higher-than-expected first quarter net profit on
Wednesday on positive momentum in its home market.
    The subsidiary of Belgium's Anheuser-Busch InBev  ABI.BR 
posted a profit of 3.80 billion reais ($748.86 million), above
the 3.44 billion average estimate of analysts polled by LSEG.
    Sales volumes grew 0.1% while revenue fell by 1.2% to 20.28
billion reais, missing the 20.375 billion consensus view.
    Earnings before interest, tax, depreciation and amortization
(EBITDA) grew by 1.4% to 6.53 billion reais.
    The company said the increase was due to a combination of
top line growth, beneficial foreign exchange and commodity
fluctuations, and cost control. 
    Ambev is Brazil's fourth-largest company by market
capitalization, behind oil giant Petrobras  PETR4.SA , miner
Vale  VALE3.SA  and lender Itau  ITUB4.SA .
        ($1 = 5.0744 reais)

 (Reporting by Natalia Siniawski; editing by Andrew Heavens and
Jason Neely)
 ((natalia.siniawski@thomsonreuters.com;))