Filing Flows › Anheuser-Busch InBev SA (BUD) › Q1 2026 › vs Q4 2025
Anheuser-Busch InBev SA (BUD) Q1 2026 vs Q4 2025 (quarter over quarter)
Anheuser-Busch InBev SA's revenue fell $1.2B (-8%) from $14.8B in Q4 2025 to $13.6B in Q1 2026. Gross margin 55.6% against 55.2% (+0.4 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 Q4 2025, the increases inside each band.
Margins
| Q1 2026 | Q4 2025 | Change | |
|---|---|---|---|
| Gross margin | 55.6% | 55.2% | +0.4 pts |
| Operating margin | 10.9% | 2.5% | +8.4 pts |
| Net margin | 15.8% | 8.2% | +7.5 pts |
Every line
| Line | Q1 2026 | Q4 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $13.6B | $14.8B | −$1.2B | -8% |
| Gross profit | $7.6B | $8.2B | −$614M | -7% |
| Cost of revenue | $6.0B | $6.6B | −$599M | -9% |
| Operating profit | $1.5B | $372M | $1.1B | +299% |
| Operating expenses | $6.1B | $7.8B | −$1.7B | -22% |
| Pre-tax earnings | $1.5B | $372M | $1.1B | +299% |
| Income tax benefit | $664M | $848M | −$184M | -22% |
| Net earnings | $2.1B | $1.2B | $928M | +76% |
Questions
How much did Anheuser-Busch InBev SA's revenue grow quarter over quarter in Q1 2026?
Anheuser-Busch InBev SA's revenue fell $1.2B (-8%) from $14.8B in Q4 2025 to $13.6B in Q1 2026. Gross margin 55.6% against 55.2% (+0.4 pts).