Filing Flows › Anheuser-Busch InBev SA (BUD) › Q1 2026 › vs Q1 2025
Anheuser-Busch InBev SA (BUD) Q1 2026 vs Q1 2025 (year over year)
Anheuser-Busch InBev SA's revenue fell $1.6B (-11%) from $15.3B in Q1 2025 to $13.6B in Q1 2026. Gross margin 55.6% against 56.6% (-1.0 pts).
Anheuser-Busch InBev SA, Q1 2026: revenue $13.6B (-11% year over year), operating margin 10.9%, net earnings $2.1B. The chart draws each line against Q1 2025, the increases inside each band.
Margins
| Q1 2026 | Q1 2025 | Change | |
|---|---|---|---|
| Gross margin | 55.6% | 56.6% | -1.0 pts |
| Operating margin | 10.9% | 11.6% | -0.8 pts |
| Net margin | 15.8% | 16.8% | -1.0 pts |
Every line
| Line | Q1 2026 | Q1 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $13.6B | $15.3B | −$1.6B | -11% |
| Gross profit | $7.6B | $8.6B | −$1.1B | -12% |
| Cost of revenue | $6.0B | $6.6B | −$575M | -9% |
| Operating profit | $1.5B | $1.8B | −$293M | -16% |
| Operating expenses | $6.1B | $6.9B | −$771M | -11% |
| Pre-tax earnings | $1.5B | $1.8B | −$293M | -16% |
| Income tax benefit | $664M | $786M | −$122M | -16% |
| Net earnings | $2.1B | $2.6B | −$415M | -16% |
Questions
How much did Anheuser-Busch InBev SA's revenue grow year over year in Q1 2026?
Anheuser-Busch InBev SA's revenue fell $1.6B (-11%) from $15.3B in Q1 2025 to $13.6B in Q1 2026. Gross margin 55.6% against 56.6% (-1.0 pts).