26 July, 2018

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.

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