UPDATE 3-Ambev says price hikes to keep a lid on Brazil beer volumes in Q4 -CFO [Reuters]
Ambev S.A. American Depositary Shares (Each representing 1 Common Share) (ABEV)
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Source: Reuters
Ambev says price hikes to keep a lid on Brazil beer volumes in fourth-quarter - CFO SAO PAULO (Reuters) - Brazilian beverages firm Ambev SA ( ABEV3.SA The largest brewer in Latin American has played down hopes of boosting its operating profit this year in Brazil, its largest market, where tougher competition and a still sluggish economy put pressure on beer sales. “It takes two to three months for the local market to adjust to price hikes, hence why we still see some headwinds carrying into the fourth-quarter,” Chief Financial Officer Fernando Tennenbaum told Reuters in an interview. He added that discounts by some competitors had also contributed to a 2.8% drop in beer volumes in the third-quarter, contributing to a reduction in Ambev’s market share in Brazil. “This atypical pricing behavior from competitors is not sustainable and that is why we don’t do the same”, the CFO said, without citing names. Analysts at Bank of America Merrill Lynch noted that Ambev started hiking its beer p
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News
- AMBEV'S 2023 ANNUAL REPORT ON FORM 20-F AVAILABLE ON OUR WEBSITEPR Newswire
- Ambev S.A. (NYSE: ABEV) was downgraded by analysts at Barclays PLC to an "equal weight" rating. They now have a $3.00 price target on the stock, down previously from $3.50.MarketBeat
- Ambev S.A. (NYSE:ABEV) Q4 2023 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Ambev S.A. (NYSE: ABEV) was downgraded by analysts at JPMorgan Chase & Co. from an "overweight" rating to a "neutral" rating.MarketBeat
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Earnings
- 3/1/24 - Beat
ABEV
Sec Filings
- 4/26/24 - Form 6-K
- 4/26/24 - Form 6-K
- 4/9/24 - Form 6-K
- ABEV's page on the SEC website