AB InBev returns to sales growth after three-year lull
AB InBev has posted its first quarterly sales increase in three years, buoyed by growth in premium beer, alcohol-free products and digital sales channels. The brewer also pointed to continued investment in sustainability infrastructure in the UK, including a wastewater treatment facility at its Samlesbury brewery near Preston.
The world’s largest brewer reported revenue growth of 5.8% for the first quarter of 2026, with revenue reaching US$15.27 billion. Beer volumes rose by 1.2% while total volumes were up 0.8%. Underlying earnings per share climbed 20.8% to US$0.97.
Michel Doukeris, chief executive, attributed the performance to what he described as “the strength of the category and the consistent execution of our consumer-centric strategy”. AB InBev gained or maintained market share in 75% of its markets during the quarter.
The brewer said revenue growth was helped by premiumisation and the expansion of its Beyond Beer and no-alcohol portfolios. Revenue from no alcohol beer rose by 27%, while Beyond Beer revenue increased by 37%, as per the company’s figures.
Corona continued to perform strongly outside its domestic market, with revenues rising 16%, while Stella Artois grew 14% and Michelob Ultra 39%.
Digital sales continue to expand
AB InBev also reported substantial growth through its digital commerce operations. BEES Marketplace gross merchandise value rose by 55% year on year to US$1.1 billion. Total BEES gross merchandise value reached US$14.6 billion during the quarter.
Its direct-to-consumer operations, including Zé Delivery, TaDa Delivery and PerfectDraft, generated US$139 million in revenue and served 12 million active consumers.
In the United States, sales to retailers increased by 0.3%, with the brewer saying it outperformed the wider industry. Cutwater was described by the company as the number one share-gaining brand in the total spirits industry during the quarter, according to Circana data cited in the release.
Brazil, Mexico, Colombia, South Africa, and Peru each delivered record first-quarter beer volumes.
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Sustainability investment continues in the UK
The latest financial results arrive shortly after AB InBev opened a wastewater treatment facility at its Samlesbury brewery in Lancashire, as previously reported by the drinks business.
The facility formed part of a £7.8 million investment in the site during 2025. Samlesbury Brewery, which has operated since 1972 and employs around 500 people, had already received a £45 million investment in 2021 as part of efforts to secure its long-term future as a manufacturing hub.
Speaking to the drinks business at the opening event, sustainability director Yleni De Neve said water remained central to the brewer’s environmental ambitions.
“If there is no water, there is no beer,” De Neve told db.
According to De Neve, the new treatment plant converts organic material from brewery wastewater into biogas, which is then returned to the brewery’s energy system. The site’s boilers were designed to operate on both natural gas and biogas.
De Neve said the process could reduce fossil gas consumption and lower Scope 1 CO2 emissions by between 5% and 8%, depending on how much wastewater is treated.
Water and emissions targets
As reported by AB InBev, the group has improved global water use efficiency by 22.7% per hectolitre since 2017. In high stress areas, water use efficiency improved by 31.3% over the same period to 1.95 hl/hl.
The company also said that in the UK it brewed with 100% operational renewable electricity during 2025 and reduced Scope 1, 2 and 3 emissions per hectolitre by more than 44% since 2017.
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