Truth Squad Talks Back on Brito FILED NOVEMBER 5, 2018Man oh man we got many responses -- some heated on both sides -- regarding our Halloween editorial on AB Inbev's Carlos Brito's North American performance [see BBD 10-31-2018].
Five Questions for Boston Beer FILED NOVEMBER 1, 2018Boston Beer had an impressive Q3 call last week, boasting +18% depletions and a crazy 23.5% shipment jump, on top of 24% revenue growth. The stock is almost back to its all-time high [currently around $312] - particularly impressive for this recently sheepish market.
What Happens When There's Nobody Else to Fire? Brito's Conundrum FILED OCTOBER 31, 2018I've been on the phone the last week and a half with several buy and sell-side Wall Street and City (London) analysts and investors to get an understanding why ABI's stock is down nearly 40% in a roaring economy and agreeable demographics in their largest profit market, the U.S. And then they cut their dividend because they still owe about $100+ billion from the purchase of SABMiller, which means their balance sheet is constricted from making another major purchase unless they can generate organic cash flow growth from the assets they already own, particularly in their largest profit pool, North America.