Anheuser-Busch Cos Inc. said Thursday its third-quarter profit fell 5.7 percent due to charges for its pending sale to InBev SA, but sales rose in the quarter and the nation’s largest brewer gained market share. The maker of Bud Light and Budweiser said it earned $666.1 million, or 90 cents a share in the three-month period ending Sept. 30. That compares with profit of $706.7 million, or 95 cents a share, a year earlier. St. Louis-based Anheuser-Busch said its earnings include pretax charges of $166.2 million associated with its sale to the Belgian brewer and a retirement program, and gains of $15.3 million from the sale of distribution rights for Grolsch. When stripping those out, the company earned $1.05 a share, which beat analyst estimates by a penny, according to Thomson Reuters. Analysts generally exclude one-time items. Net sales rose to $4.92 billion from $4.62 billion last year, ahead of analyst estimates of $4.88 billion. Anheuser-Busch shareholders are set to vote on the deal next Wednesday. InBev shareholders have already approved the deal.
Shares of Anheuser-Busch rose 45 cents, less than 1 percent, to $64.08 in morning trading Thursday. The company said its U.S. shipments to wholesalers rose 2.3 percent in the quarter and sales to retailers grew 3.6 percent.
Worldwide beer volume rose 3 percent in the quarter.
All of the judges hard work is over and the winners from the Great American Beer Festival are in. According to the BA’s Web site winners are determined based on the results of the competitive beer judging held at the Great American Beer Festival. Breweries are awarded points based on medals won, and these points are tabulated to arrive at the results. The following criteria used to rank breweries and break ties by awarding points. See Beer Competition for more information.
Here are the main awards:
Large Brewing Company of the Year: Anheuser-Bush, Inc.
Mid-Size Brewing Company of the Year: Pyramid Breweries, Inc.
Small Brewing Company of the Year: AleSmith Brewing Co.
Large Brewpub of the Year: Rock Bottom Brewing
Small Brewpub of the year: Redwood Brewing Co.
You can find all of the winners here. More posts to come on this.
An Amber Ale brewed by
St. Louis, Missouri USA
Glassware: Pint glass
Poured from the bottle into a pint glass an amber color with a nice looking head. I think the best part of this beer is the hop aromas. They seemed to have paid attention to this and did a pretty good job with it. The taste is smooth but the hops in the nose aren’t in the body. Seems a bit watery and tingly on the tongue. A decent, no fault amber ale. Proves A-B can make a tasty product. For the price compared to taste it is ok.
Beer Advocate food pairing suggestions: Cheese (sharp; Blue, Cheddar) Meat (Beef, Poultry, Fish)
My ratebeer.com score: 2.8
Anheuser-Busch is rolling out a $50 million advertising campaign for Bud Light playing up the beer’s “drinkability,” trying to set the brand apart as rival MillerCoors waits until the new year to release new ads for Miller Lite and Coors Light. Bud Light’s new ads, which start airing Saturday during college football, feature situations ranging from a football game to a pool party to tell consumers that all light beer isn’t the same and Bud Light has taste but won’t fill them up. The St. Louis-based brewer, which is selling itself to Belgian brewer InBev SA, said consumers told the brewer Bud Light had enough flavor and is easy to swallow – two factors that help make it a beer that people can drink. The ads boast the tag line: Bud Light, the difference is drinkability. That replaces “Bud Light keeps it coming” and before that, “Make it a Bud Light.”
InBev SA shareholders on Monday backed the company’s $52 billion takeover of Anheuser-Busch – a deal that would form the world’s largest brewer under the name Anheuser-Busch InBev.
Shareholders also approved a capital increase and share issue that would raise up to $10 billion to pay for part of the deal. That covers the existing equity bridge financing of $9.8 billion in place since the deal was announced in July, InBev said, with an extra margin to cover any major currency fluctuations until the deal closes.
Shareholders of St.Louis-based Anheuser-Busch still neeed to approve the deal.
Anheuser-Busch already plans to shed 1,185 positions – mostly by offering early retirement and not filling existing vacancies.
Is it last call for the King of Beers?
That’s the question being asked near Wrigley Field as Anheuser-Busch and the owners of a building with a huge red and white Budweiser advertisement on the roof square off in a legal battle.
The new owner of the building covered the ad with a tarp, saying the beer maker didn’t pay its rent on time and defaulted on its lease. He wants to take legal possession of the part of the roof where the sign is.
Anheuser-Busch said it tried to pay but its check was sent back. The brewer contends it has exclusive rights to the roof through next February.
A Cook County Circuit Court judge Friday granted a temporary restraining order that means Anheuser-Busch can remove the tarp.
Anheuser-Busch Cos. Inc. made it official on Monday when it unveiled Budweiser American Ale on draught nationwide.
The Business Journal of Milwaukee said that on Sept. 29, the new amber ale debuts in 12-ounce six-packs and 22-ounce singles select retailers.
Anheuser-Busch, which has worked on the new beer since 2007, touted the ale’s performance in blind taste tests. The brewer is the top domestic competitor to MillerCoors LLC, the joint venture of Milwaukee’s Miller Brewing Co. and Coors Brewing Co. of Golden, Colo.
You read a story on its release here. Ok, I am now done with writing about this release for a while.