AB-InBev earnings due: A Bud Light backlash is not its biggest problem.
But the usual executive drone about sales volumes will likely be overshadowed by what, if anything, executives say about the conservative-led backlash to Bud Light’s promotional partnership with trans influencer Dylan Mulvaney.
Still, as Barron’s noted, the trade publication Beer Business Daily reported that the amount of Bud Light sold outside bars and restaurants fell 26.1% year-over-year during the week ending April 22, after falling 21.1% during the prior week. During the company’s earnings call, AB-InBev executives could offer further commentary about where sales are headed.
What to expect Earnings: Wall Street expects AB InBev to earn 59 cents a share, compared with 67 cents in the same quarter a year ago.Stock movement: Shares have rattled around since the backlash to the Bud Light campaign began, and finished April lower. But they’re up 14.6% over the past 12 months. The stock rose 0.3% on Wednesday.
Those handful of posts were enough to prompt online calls for a boycott, complaints about “woke” corporate agendas, and for Kid Rock to shoot up a few Bud Light cases. Anheuser-Busch’s chief executive said in a statement, “We never intended to be part of a discussion that divides people.” Liberals said the statement ceded to transphobic anger, while conservatives said it didn’t apologize directly enough.
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