Budweiser-maker AB InBev's World Cup sales beat not enough to lift shares

LONDON, July 30 (Reuters) - Brewer Anheuser-Busch InBev reported forecast-beating revenue, profit and volumes in the second quarter on Thursday, but its shares fell as weakness in China tempered a sales boost from the soccer World Cup.

Shares in the world's largest beer maker by market value were down 3% at 1214 GMT. They had risen around 36% since the start of the year as investors grew more optimistic about the sector following a difficult 2025.

The Budweiser maker reported a 5.8% rise in second-quarter organic operating profit, higher than the 4.6% growth expected by analysts. Revenue also beat forecasts, while volumes rose for a second consecutive quarter after years of decline.

AB InBev also beat forecasts in the first quarter.

Across the industry, brewers' efforts to grow sales have been challenged by pressure on consumer spending, geopolitical uncertainty and unfavourable weather.

AB InBev said key global brands Corona, Stella Artois and Michelob Ultra posted revenue growth of 17%, 19% and 21%, respectively, outside their home markets, helped by the recent World Cup, for which the brewer was a major sponsor.

CEO Michel Doukeris said AB InBev expected to deliver the 25 basis point uplift to annual volumes previously anticipated from the World Cup, even though teams from some of AB InBev's most important markets — such as Brazil and Mexico — were knocked out relatively early. AB InBev has a small footprint in European countries such as Spain, which won the tournament.

"It could have been better, but it was very good," Doukeris said via phone.

AMERICAS DRIVE GROWTH

Beer volumes still hit record highs in the quarter in Mexico, Colombia, and Ecuador, and returned to growth in Brazil.

In the United States, however, sales to wholesalers and retailers fell. Volumes also declined 9.7% in China, where AB InBev has performed worse than major rivals in an industry-wide downturn in demand.

Doukeris flagged a slight decline in consumer confidence between the first and second quarter as the Iran War drove up gas and oil prices. Extreme heat in Europe, meanwhile, is not good for either people or beer sales, he said.

"There were a few puts and takes, but in aggregate this was a solid performance," RBC Capital Markets analyst James Edwardes Jones said, while adding there was a risk of disappointment around the second-quarter performance given the strong run in AB InBev shares in recent months.

(Reporting by Emma Rumney. Editing by Janane Venkatraman and Mark Potter)