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

Ambev (NYSE:ABEV) announced its quarterly earnings data on Thursday. The company reported $0.05 earnings per share for the quarter, meeting the consensus estimate of $0.05, FiscalAI reports. The business had revenue of $4.50 billion during the quarter. Ambev had a return on equity of 15.81% and a net margin of 17.90%.

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 Price Performance

Shares of Ambev stock traded down $0.11 on Friday, reaching $3.10. The stock had a trading volume of 6,082,494 shares, compared to its average volume of 25,349,781. The business’s 50 day moving average is $2.63 and its two-hundred day moving average is $2.41. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.02. Ambev has a 1 year low of $1.87 and a 1 year high of $3.23. The company has a market cap of $48.77 billion, a P/E ratio of 17.20, a price-to-earnings-growth ratio of 3.22 and a beta of 0.65.

Ambev Announces Dividend

The business also recently declared a special dividend, which was paid on Friday, January 9th. Stockholders of record on Monday, December 22nd were given a dividend of $0.049 per share. The ex-dividend date was Monday, December 22nd. This represents a dividend yield of 1,465.0%. Ambev’s dividend payout ratio is currently 183.33%.

Institutional Trading of Ambev

Institutional investors and hedge funds have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its position in shares of Ambev by 12.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 36,058,376 shares of the company’s stock valued at $80,410,000 after purchasing an additional 3,864,844 shares in the last quarter. Bank of America Corp DE boosted its stake in Ambev by 9.9% during the second quarter. Bank of America Corp DE now owns 27,505,192 shares of the company’s stock valued at $66,288,000 after buying an additional 2,479,310 shares during the period. Brandes Investment Partners LP boosted its stake in Ambev by 4.0% during the fourth quarter. Brandes Investment Partners LP now owns 22,600,124 shares of the company’s stock valued at $55,822,000 after buying an additional 874,657 shares during the period. CANADA LIFE ASSURANCE Co grew its position in Ambev by 74.8% during the second quarter. CANADA LIFE ASSURANCE Co now owns 13,409,316 shares of the company’s stock worth $32,624,000 after buying an additional 5,740,155 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Ambev by 248.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 13,135,697 shares of the company’s stock worth $32,445,000 after acquiring an additional 9,361,815 shares during the last quarter. 8.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $2.88 price objective on shares of Ambev in a report on Wednesday, November 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ambev in a research note on Monday, December 29th. Six analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $2.53.

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.