Anheuser-Busch InBev shows a solid bounce in on-premise U.S. business

News Snapshot:

Anheuser-Busch InBev (BUD) has continued its recovery in the U.S. during 2024, according to data from industry tracker Fintech. Of note, Michelob Ultra is now leading all beer brands in retailer purchases so far in 2024, and Bud Light continues to show noticeable improvement since November. "We see the on-premise share recovery in the Fintech data as the strongest sign that the ABI portfolio is on its way back to health and with potentially a better product mix, as Michelob Ultra sells at a 10-15% premium to Bud Light," updated Evercore ISI analyst Robert Ottenstein. Ottenstein said the combined U.S....