Despite problems brought on by Bud Light’s relationship with a transgender influencer, and a drop in the sales of that brand, beer sales are surging. Anheuser-Busch InBev S.A./N.V. (NYSE: BUD | BUD Price Prediction) posted a profit jump, which is a sign that a slowing economy has not hit the beer market. (These are America’s 30 oldest beers.)
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AB InBev revenue in the most recent quarter was $14.2 billion, up 12% from the year before. Profits hit $4.8 billion, a 14% gain.
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It is still in the early stages of the hunt for which companies and stocks will weather the recession’s battering. Typically, inexpensive items that are part of people’s everyday lives do well. That includes food and beer. On the other side of the equation are cars and appliances. As houses get more expensive, most people are also priced out of that market.
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American adults drink 28.2 gallons of beer a year. For some reason, the figure is 49 gallons in North Dakota and only 20 gallons yearly in Utah. Most Mormons do not drink, so the Utah number is low.
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The success of the beer economy shows up in the AB InBev stock. It is up 12% in the past year, while the overall market is down slightly.
Beer Sales Explode
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