The world’s most valuable brewer said major global sporting events—including the Super Bowl, the Winter Olympics and the FIFA World Cup—could give it a competitive edge in 2026, positioning it to outperform key rivals despite lingering economic headwinds.
Sporting Boost in Focus
AB InBev, brewer of global brands such as Budweiser and Stella Artois, reiterated its annual guidance for profit growth of between 4% and 8% in 2026. That outlook compares favourably with projections from competitors such as Heineken and Carlsberg, both of which have guided for profit growth of 2% to 6%.
The company said it invested $7.4 billion in sales and marketing over the year and either gained or maintained market share in roughly two-thirds of its markets. Management expects its heavy brand presence at high-profile sporting events to translate into stronger consumer engagement and sales momentum next year.
Chief Executive Officer Michel Doukeris said the brewer was entering 2026 from a position of strength. “We exit 2025 with improved momentum and enter 2026 well positioned,” he noted.
Industry Pressures Persist
Despite the upbeat quarterly performance, AB InBev and its peers continue to grapple with a challenging operating environment. Beer sales have softened across key markets, as consumers face strained household finances and adverse weather conditions in several regions.
Heineken announced plans this week to cut up to 6,000 jobs over the next two years as part of cost-control efforts, underscoring the pressures facing the sector.
AB InBev’s shares rose about 2% in early trading following the earnings release. While fourth-quarter profit and revenue surpassed expectations and volumes fell less than forecast, the broader growth picture remains mixed.
Annual profit growth of 4.9% came in at the lower end of the company’s guidance range and marked a slowdown from growth of more than 8% recorded in 2024.
China and Cost Headwinds
The brewer continues to face significant challenges in China, where it lags some competitors. Quarterly profit in the country fell 38.7%, reflecting declining sales and additional spending aimed at reviving performance. Efforts have included initiatives to stimulate at-home consumption in response to changing consumer behaviour.
Beyond China, AB InBev has been impacted by foreign-exchange volatility, which has increased input costs, and U.S. tariffs on key materials such as aluminium used in beverage cans.
Industry analysts say the company is executing well under difficult conditions but still faces structural challenges. “It shows you it’s a tough business,” one portfolio manager at shareholder Abax Investments observed, pointing to declining global volumes and uncertainty around a return to stronger growth in major markets like the United States.
As the brewer positions itself for 2026’s packed sporting calendar, investors will be watching closely to see whether global events can offset persistent demand weakness and restore stronger growth momentum.