Belgian drinks company Anheuser-Busch Inbev recently released their quarterly revenue results, showing modest growth but still struggling to recover from last year’s backlash. Despite the revenue growth, the results are considered historically low due to the aftermath of a customer boycott that affected the company last year.
The controversy began when AB InBev collaborated with transgender influencer Dylan Mulvaney and sent her a personalized Bud Light can to celebrate her transition. This move sparked controversy, with right-wing commentators criticizing the brand for pushing a liberal agenda and left-wing voices faulting the company for not adequately supporting Mulvaney.
In response to the backlash, AB InBev’s Europe CEO, Jason Warner, stated that the company would “stay in our lane” moving forward. Despite a 11.1% drop in sales of the company’s beer brands in North America, largely attributed to Bud Light’s performance, commentators believe that the effects of the boycott will begin to fade. The company’s Chief Executive, Michel Doukeris, expressed optimism about the results of the quarter, citing the strength of the beer category, global footprint, and momentum of their mega brands as driving factors.
While some regions showed lackluster improvements compared to others, stronger growth was observed in regions like Mexico, Brazil, and South Africa. AB InBev reported a 5.4% increase in Normalised EBITDA to nearly $5 billion
