Bud Light sales are still falling, but here's what investors may be missing
But Light sales are still falling, as the impact of a boycott against the beer continues to stick. But Morgan Stanley analysts on Thursday said that impact was already reflected into shares of its parent company, Anheuser-Busch InBev, and that AB-InBev’s global footprint and the falling costs of beer ingredients would help sales and margins up ahead even if struggles in the U.S. spill over into next year.
“While investors are currently sitting on the sidelines, waiting for the company to fully quantify the impact of the Bud Light situation, we see upcoming H1 results as likely timing for such clarification,” the analysts said in a research note. The fall-off has spread to some of other AB-InBev’s other beer brands, and benefited its rivals. Modelo Especial — which Constellation Brands Inc. STZ, +0.03% is licensed to sell in the U.S. but whose brewer in Mexico is owned by AB-InBev — has recently dethroned Bud Light as the U.S.’ best-selling beer.
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