Ambev (NYSE:ABEV) Releases Quarterly Earnings Results, Hits Estimates

Ambev (NYSE:ABEV) posted its quarterly earnings results on Thursday. The company reported $0.05 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.05, FiscalAI reports. The firm had revenue of $4.50 billion for the quarter, compared to analyst estimates of $4.28 billion. Ambev had a net margin of 17.75% and a return on equity of 16.24%.

Here are the key takeaways from Ambev’s conference call:

• Ambev delivered margin improvement, with consolidated normalized EBITDA margin up 50 basis points to 33.4% (third consecutive year of expansion) and Brazil Beer EBITDA margin up 110 bps, driven by net revenue per hectoliter growth, productivity and disciplined SG&A.
• Management reinforced aggressive capital returns, announcing approximately BRL 20 billion (dividends, interest on capital and a BRL 2.5 billion buyback) and reporting BRL 21.7 billion returned to shareholders in cash in 2025.
• Digital and delivery businesses scaled meaningfully—BEES Marketplace GMV grew ~70% with 3.5pp gross margin improvement, and Zé Delivery closed the year at BRL 4.7 billion GMV, 67 million orders and 27 million annual active users, strengthening access to younger consumers.
• Volumes were pressured across markets—Brazil beer volumes were weak for most of 2025 due to weather-driven declines in out‑of‑home occasions (October was the biggest drag), although the company reported sequential recovery and a low single-digit Nielsen sellout share gain in Q4.
• Cost pressures persist into 2026 with guidance for Brazil beer cash COGS per hectoliter to rise 4.5%–7.5%, driven mainly by commodities (notably aluminum) and portfolio mix, which could constrain margin upside if volume recovery lags.

Ambev Stock Down 2.3%

Shares of ABEV stock traded down $0.08 during trading on Friday, reaching $3.13. The company’s stock had a trading volume of 20,786,015 shares, compared to its average volume of 26,882,516. Ambev has a 1-year low of $1.87 and a 1-year high of $3.23. The stock’s 50-day moving average price is $2.64 and its 200 day moving average price is $2.42. The company has a market capitalization of $49.24 billion, a price-to-earnings ratio of 17.36, a P/E/G ratio of 3.38 and a beta of 0.65. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.15 and a quick ratio of 0.86.

Ambev Announces Dividend

The firm also recently disclosed a special dividend, which was paid on Friday, January 9th. Stockholders of record on Monday, December 22nd were paid a $0.049 dividend. The ex-dividend date of this dividend was Monday, December 22nd. This represents a dividend yield of 1,465.0%. Ambev’s dividend payout ratio (DPR) is presently 183.33%.

Analysts Set New Price Targets

ABEV has been the subject of several analyst reports. Sanford C. Bernstein reiterated a “market perform” rating and issued a $2.88 price objective on shares of Ambev in a research report on Wednesday, November 26th. Weiss Ratings restated a “hold (c)” rating on shares of Ambev in a report on Monday, December 29th. Six investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $2.53.

Trending Headlines about Ambev

Here are the key news stories impacting Ambev this week:

• Positive Sentiment: Company confirmed an April payment date for the first 2026 interest‑on‑capital tranche, supporting near‑term cash returns to shareholders. Article Title
• Positive Sentiment: Management highlighted record shareholder returns and announced an April payout date tied to 2025 results — a direct capital‑allocations signal that can support the share price. Article Title
• Positive Sentiment: Reported full‑year 2025 earnings growth and solid margins (net margin ~17.8%, ROE ~16%) and revenue of ~$4.5B for the quarter — topline and profit metrics that support valuation. Article Title
• Neutral Sentiment: Quarterly results were broadly in line with expectations: EPS of $0.05 matched consensus and the company provided slides and a call transcript for investors to dig into details. That removes some uncertainty but gave no upside surprise. Article Title
• Neutral Sentiment: Company filed a routine Form 6‑K as a foreign private issuer (standard disclosure of results/updates) — informational but not market moving by itself. Article Title
• Negative Sentiment: Volumes contracted across key markets in Q4 — the revenue beat was driven by pricing/mix rather than shipment growth, raising questions about demand sustainability and longer‑term top‑line momentum. Article Title
• Negative Sentiment: EPS only met consensus (no beat), which likely disappointed traders looking for upside; with shares already having rallied, the lack of an earnings surprise is pressuring the stock. Article Title

Institutional Trading of Ambev

A number of large investors have recently modified their holdings of ABEV. Perigon Wealth Management LLC boosted its holdings in Ambev by 34.3% in the fourth quarter. Perigon Wealth Management LLC now owns 15,411 shares of the company’s stock valued at $38,000 after purchasing an additional 3,936 shares during the period. Federation des caisses Desjardins du Quebec boosted its stake in shares of Ambev by 4.4% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 100,451 shares of the company’s stock valued at $248,000 after buying an additional 4,237 shares during the period. Blair William & Co. IL grew its position in shares of Ambev by 3.4% during the third quarter. Blair William & Co. IL now owns 140,579 shares of the company’s stock worth $313,000 after buying an additional 4,557 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Ambev by 2.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 240,887 shares of the company’s stock worth $595,000 after buying an additional 4,700 shares during the period. Finally, West Family Investments Inc. raised its holdings in Ambev by 10.4% in the third quarter. West Family Investments Inc. now owns 51,819 shares of the company’s stock valued at $116,000 after acquiring an additional 4,891 shares in the last quarter. Hedge funds and other institutional investors own 8.13% of the company’s stock.

About Ambev

Ambev (NYSE: ABEV) is a Brazilian-based beverage company that produces, distributes and markets a broad portfolio of alcoholic and non-alcoholic drinks. The company’s core business centers on brewing and selling beer, alongside a range of soft drinks, bottled water, energy drinks and other malt-based beverages. Headquartered in São Paulo, Ambev operates an integrated value chain that covers manufacturing, packaging, logistics and commercial sales to retail, on-premise and institutional customers.

The company traces its origins to the 1999 merger of two historic Brazilian breweries, and later became part of the broader global brewing group through subsequent industry consolidations.