Ambev (NYSE:ABEV) Releases Quarterly Earnings Results, Meets Expectations

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

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 Up 3.4%

Shares of NYSE:ABEV traded up $0.11 during trading hours on Thursday, hitting $3.16. The company’s stock had a trading volume of 23,796,307 shares, compared to its average volume of 25,650,328. Ambev has a 52 week low of $1.84 and a 52 week high of $3.23. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.15 and a quick ratio of 0.86. The company has a market capitalization of $49.72 billion, a price-to-earnings ratio of 17.53, a P/E/G ratio of 3.17 and a beta of 0.65. The firm’s fifty day moving average price is $2.61 and its 200 day moving average price is $2.41.

Ambev Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have recently commented on ABEV shares. Weiss Ratings restated a “hold (c)” rating on shares of Ambev in a report on Monday, December 29th. Sanford C. Bernstein reiterated a “market perform” rating and set a $2.88 price objective on shares of Ambev in a report on Wednesday, November 26th. Six equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $2.53.

Hedge Funds Weigh In On Ambev

A number of large investors have recently bought and sold shares of ABEV. Oxbow Advisors LLC purchased a new stake in shares of Ambev during the third quarter valued at $2,805,000. Ashton Thomas Private Wealth LLC boosted its position in Ambev by 118.7% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 2,659,347 shares of the company’s stock worth $5,986,000 after purchasing an additional 1,443,232 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Ambev by 12.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 36,058,376 shares of the company’s stock valued at $80,410,000 after buying an additional 3,864,844 shares during the period. Kapitalo Investimentos Ltda boosted its stake in shares of Ambev by 216.3% during the 3rd quarter. Kapitalo Investimentos Ltda now owns 1,784,142 shares of the company’s stock worth $3,979,000 after acquiring an additional 1,220,006 shares in the last quarter. Finally, Eldred Rock Partners LLC boosted its stake in shares of Ambev by 11.6% during the 3rd quarter. Eldred Rock Partners LLC now owns 3,962,046 shares of the company’s stock worth $8,926,000 after acquiring an additional 412,189 shares in the last quarter. Institutional investors own 8.13% of the company’s stock.

Ambev Company Profile

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.