Brazil: Ambev misses profit estimates in Q2
Ambev SA, the Latin American unit of brewing giant Anheuser Busch InBev NV, missed quarterly profit estimates on July 26, despite higher beer sales during the World Cup.
In a securities filing it reported a second quarter adjusted net profit of 2.349 billion reais ($636.95 million), up 9.7 percent from a year earlier but below a Reuters consensus estimate of 2.43 billion reais.
The company sees a challenging operating environment in Brazil, Chief Financial Officer Fernando Tennenbaum told reporters during a conference call on July 26.
Ambev is monitoring the legal and legislative debates regarding a government decision to set truck freight prices in order to decide whether to create its own logistics arm instead of using third-party providers, he said.
E-malt.com, the global information source for the brewing and malting industry professionals. The bi-weekly E-malt.com Newsletters feature latest industry news, statistics in graphs and tables, world barley and malt prices, and other relevant information. Click here to get full access to E-malt.com. If you are a Castle Malting client, you can get free access to E-malt.com website and publications. Contact us for more information at marketing@castlemalting.com .