Anheuser-Busch InBev Backs Guidance Despite 3Q Miss on Lower Volumes -- Update

Anheuser-Busch InBev backed its full-year guidance after third-quarter earnings missed market forecasts as volumes fell, with drops in North American offsetting rises in other areas.

Sales in the region have been falling since April when Dylan Mulvaney, a transgender social-media star, made an Instagram post about a personalized can of Bud Light that the brewer had sent her as a gift. The post sparked a boycott that caused sales of Bud Light, and other brands, to fall. Net profit for the quarter rose to $1.47 billion from $1.43 billion for the comparable period a year earlier but missed a FactSet consensus of $1.85 billion.

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