ABEV Stock - Ambev S.A.
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Financial Statements
| Metric | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Revenue | $89.45B | $79.74B | $79.71B | $72.85B | $58.38B |
| Gross Profit | $45.84B | $40.45B | $39.29B | $37.19B | $31.31B |
| Gross Margin | 51.2% | 50.7% | 49.3% | 51.1% | 53.6% |
| Operating Income | $21.80B | $18.83B | $17.69B | $17.08B | $15.97B |
| Net Income | $14.44B | $14.50B | $14.46B | $12.67B | $11.38B |
| Net Margin | 16.1% | 18.2% | 18.1% | 17.4% | 19.5% |
| EPS | $0.92 | $0.92 | $0.92 | $0.81 | $0.72 |
Ambev S.A., through its subsidiaries, produces, distributes, and sells beer, draft beer, carbonated soft drinks, other non-alcoholic beverages, malt, and food products in the Americas. The company operates through four segments: Brazil; Central America and the Caribbean; Latin America South; and Canada. It offers beer primarily under the Skol, Brahma, Antarctica, Brahva, Brahva Gold, Extra, Bud Light, Beck, Leffe and Hoegaarden, Bucanero, Cristal, Mayabe, Cacique, Presidente, Brahma Light, Presidente Light, Presidente Golden Light, Bohemia, The One, Corona, Modelo Especial, Stella Artois, and Budweiser, Quilmes Clásica, Paceña, Taquiña, Huari, Becker, Cusqueña, Michelob Ultra, Busch, Pilsen, Ouro Fino, Banks, Deputy, Patricia, Labatt Blue, Alexander Keith's, and Kokanee brands. The company also provides bottled water, isotonic beverages, energy drinks, coconut water, powdered and natural juices, and ready-to-drink teas under the Guaraná Antarctica, Gatorade, H2OH!, Lipton Iced Tea, Fusion, Do Bem, Pepsi, Canada Dry, Squirt, Red Rock, Pepsi-Cola, Seven Up, Nutrl, Bud Light Seltzer, Palm Bay, and Mike's brands. It offers its products through a network of third-party distributors and a direct distribution system. The company was founded in 1885 and is headquartered in São Paulo, Brazil. Ambev S.A. is a subsidiary of Interbrew International B.V.
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Price Targets
Recent Analyst Actions
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| November 26th 2025 | Bernstein | Downgrade | Market Perform | - |
| August 1st 2025 | HSBC Securities | Downgrade | Hold | - |
| April 22nd 2025 | UBS | Downgrade | Neutral | - |
| April 7th 2025 | Morgan Stanley | Downgrade | Underweight | - |
| January 17th 2025 | BofA Securities | Downgrade | Neutral | - |
| March 4th 2024 | Barclays | Downgrade | Equal Weight | $3← $3.5 |
| March 1st 2024 | JP Morgan | Downgrade | Neutral | - |
| December 8th 2023 | Morgan Stanley | Upgrade | Equal Weight | - |
| December 7th 2023 | Citigroup | Initiation | Buy | - |
| November 22nd 2023 | Jefferies | Initiation | Hold | - |
| July 10th 2023 | BofA Securities | Upgrade | Buy | - |
| May 24th 2023 | Bernstein | Initiation | Outperform | $3.74 |
| January 12th 2023 | UBS | Upgrade | Buy | - |
| July 13th 2022 | JP Morgan | Upgrade | Overweight | - |
Earnings History & Surprises
ABEVEPS Surprise History
Quarterly EPS Details
| Period | Report Date | Estimated EPS | Actual EPS | Surprise | Result |
|---|---|---|---|---|---|
Q2 2026 | May 6, 2026 | — | — | — | — |
Q1 2026 | Feb 25, 2026 | $0.05 | — | — | — |
Q4 2025 | Oct 30, 2025 | $0.04 | $0.04 | 0.0% | = MET |
Q3 2025 | Jul 31, 2025 | $0.03 | $0.03 | 0.0% | = MET |
Q2 2025 | May 8, 2025 | $0.04 | $0.04 | 0.0% | = MET |
Q1 2025 | Feb 26, 2025 | $0.05 | $0.05 | 0.0% | = MET |
Q4 2024 | Oct 31, 2024 | $0.04 | $0.04 | -11.1% | ✗ MISS |
Q1 2024 | Feb 29, 2024 | $0.05 | $0.06 | +20.0% | ✓ BEAT |
Q4 2023 | Oct 31, 2023 | $0.04 | $0.05 | +20.0% | ✓ BEAT |
Q3 2023 | Aug 3, 2023 | $0.03 | $0.03 | +12.0% | ✓ BEAT |
Q2 2023 | May 4, 2023 | $0.03 | $0.04 | +45.5% | ✓ BEAT |
Q1 2023 | Mar 2, 2023 | $0.03 | $0.06 | +118.1% | ✓ BEAT |
Q4 2022 | Oct 27, 2022 | $0.03 | $0.04 | +23.4% | ✓ BEAT |
Q3 2022 | Jul 28, 2022 | $0.02 | $0.04 | +63.7% | ✓ BEAT |
Q2 2022 | May 5, 2022 | $0.04 | $0.04 | +13.3% | ✓ BEAT |
Q1 2022 | Feb 24, 2022 | $0.04 | $0.04 | -3.5% | ✗ MISS |
Q2 2021 | May 6, 2021 | $0.03 | $0.03 | -6.9% | ✗ MISS |
Q1 2021 | Feb 25, 2021 | $0.05 | $0.08 | +60.0% | ✓ BEAT |
Q4 2020 | Oct 29, 2020 | $0.02 | $0.03 | +33.6% | ✓ BEAT |
Q3 2020 | Jul 30, 2020 | $0.01 | $0.01 | +40.1% | ✓ BEAT |
Latest News
Bernstein Downgrades Ambev to Market Perform, Announces $2.88 Price Target
➖ NeutralAmbev share are trading higher following Q3 earnings.
📈 PositiveAmbev Q3 2025 Adj. EPS $0.04, Sales $3.826B Down From $3.983B YoY
📉 NegativeUBS Maintains Neutral on Ambev, Lowers Price Target to $2.2
➖ NeutralFrequently Asked Questions about ABEV
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