Top 100 Food and Beverage Company Highlights: #4 AB InBev
The maker of Budweiser and Corona said its results confirmed the resilience of the beer market in the face of economic challenges, notably inflation.
AB InBev, the world’s largest brewer, reported a strong performance in Q1 after sharp price increases failed to deter customers. The quarter delivered a 13.2% increase in revenue and an EBITDA raise of 13.6% to $4.759 billion. The maker of Budweiser and Corona said its results confirmed the resilience of the beer market in the face of economic challenges, notably inflation.
In March, the beer giant partnered with Mexican food group Industrias Tajín on a new brew under the Bud Light brand. The drink, Bud Light Chelada Tajín Chile Limón, is loosely based on Chelada, a Mexican beer cocktail made with beer, tomato, salt, lime and spices. Despite AB InBev’s global business performing well, the beer giant’s Bud Light brand has been embroiled in a controversy in the U.S. in recent months. On April 1, transgender influencer Dylan Mulvaney promoted the beer brand in an Instagram video commemorating a college basketball tournament held by the National Collegiate Athletics Association. The sponsorship led to calls for a boycott of Bud Light from conservatives.