Q2 25 EPS
$0.03
MISS 9.07%
Est. $0.04
Q2 25 Revenue
$3.83B
MISS 82.05%
Est. $21.35B
vs S&P Since Q2 25
+26.2%
BEATING MARKET
ABEV +42.1% vs S&P +15.9%
Market Reaction
Did ABEV Beat Earnings? Q2 2025 Results
Ambev delivered a disappointing second quarter, missing on both the top and bottom lines as the Brazilian brewing giant reported earnings per share of $0.03 against a consensus estimate of $0.04, a shortfall of 9.07%, while revenue of $3.83 billion t… Read more Ambev delivered a disappointing second quarter, missing on both the top and bottom lines as the Brazilian brewing giant reported earnings per share of $0.03 against a consensus estimate of $0.04, a shortfall of 9.07%, while revenue of $3.83 billion trailed analyst expectations by a wide margin despite edging up 0.2% year over year from $3.82 billion in Q2 2024. The most material drag on results came from deteriorating net financial performance, with net financial results swinging to negative $185.74 million from negative $117.51 million in the prior-year period, pressured by adverse exchange differences and rising finance expenses. Bright spots did emerge beneath the headline numbers, as net income climbed meaningfully to $532.16 million from $467.58 million, and operating income improved to $838.91 million from $777.95 million, reflecting stronger execution across key segments including CAC and Canada. The quarter also saw Ambev complete a $368.21 million share buyback program, even as cash balances declined to $3.13 billion from $5.45 billion at year-start, weighed down by dividends and capital return activity.
Key Takeaways
- • Growth in CAC segment operating income driven by higher net sales
- • Canada segment revenue growth and improved operating income
- • Brazil segment operating income improvement despite slight revenue decline
- • Lower effective tax rate of 18.40% in Q2 2025 vs 28.55% in Q2 2024
- • Government grants related to taxes on sales benefiting net revenue
ABEV YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
ABEV Revenue by Segment
With YoY comparisons, source: SEC Filings
ABEV Revenue by Geography
Regional revenue distribution
ABEV Earnings Trends
ABEV vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
ABEV EPS Trend
Earnings per share: estimate vs actual
ABEV Revenue Trend
Quarterly revenue: estimate vs actual
ABEV Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | $0.05 | — | — | — | — |
| Q4 25 FY | $0.05 | — | — | $24.81B | -2.13% |
| FY Full Year | $0.18 | — | — | $88.24B | -0.61% |
| Q3 25 BEAT | $0.04 | $0.06 | +41.77% | $20.85B | -2.52% |
| Q2 25 MISS | $0.04 | $0.03 | -9.07% | $3.83B | -82.05% |