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Net sales reached $4.6 billion, up 7.6% over 2006. The jump is attributed to both increased volume (2%) and better pricing (3.1%).
BUD has overcome a slow first quarter to show a year/year increase in earnings of 5.7% for the first three quarters, with diluted EPS also up 9.2% to $2.49. It also held its share of the U.S. beer market, estimated at 48.8% vs. 48.7% a year ago.
The company announced shareholders will receive a 33 cent dividend.
Not all is frothy, though, according to analysts surveyed by Reuters. They point to an ongoing weakness in core brands Budweiser and Bud Light that was somewhat obscured by the strong performance of equity partner brands.
BUD also announced forthcoming price hikes for its beers in the fourth quarter of this year and early 2008. Combined with the threat posed by the recent partnering of Molson Coors (NYSE: TAP) and SABMiller (OTC: SBMRY) in the U.S. market, these earnings, while pleasing, will leave many investors still skeptical.