World’s biggest brewer volumes lag estimates on China demand slump

Anheuser-Busch InBev’s volumes missed analyst estimates last quarter as sluggish sales of beer and weak demand in China offset growth elsewhere at the world’s biggest brewer.

The maker of Stella Artois and Budweiser reported a 0.4% rise in organic volumes in the period, missing estimates of 0.5% growth, according to a statement Thursday.

The Belgium-based company is combating weak demand for beer in the US and Europe by focusing on “megabrands” like Corona and Michelob Ultra, as well as emerging markets, to drive growth. Heineken NV surprised investors on Wednesday with a bigger-than-expected jump in third-quarter volumes, driven by strong beer demand in Asia and an improvement in the Americas.

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Rising everyday costs and concerns over the negative health impact of drinking are forcing alcohol companies to diversify their portfolios and find growth elsewhere. AB InBev is expanding into ready-to-drink beverages, including Cutwater cocktails and NÜTRL, a vodka-based hard seltzer.

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