Breaking; 40% of Bud Light drinkers willing to return, says A-B’s CEO — but haven’t yet… Check First Comment.

40% of Bud Light drinkers willing to return, says A-B’s CEO — but haven’t yet.

During their recent earnings call, Anheuser-Busch InBev (A-B) leadership informed investors that Bud Light’s collaboration with a transgender influencer in April continues to impact sales. However, they mentioned that a $1 billion stock buyback and a new UFC sponsorship deal are positively influencing the company’s overall outlook.

A-B announced a buyback program that will occur within the next 12 months, set to begin almost immediately, according to CFO Fernando Tennenbaum. In the third quarter, A-B InBev experienced a 5% increase in global revenue, reaching $15.6 billion. However, U.S. revenue declined by over 13% due to lower Bud Light sales. CEO Michel Doukeris expressed confidence in the company’s recovery, stating that they have a good understanding of their next steps.

Doukeris shared that a recent survey revealed over 40% of former Bud Light drinkers expressed a readiness to return to consuming Bud Light. The brand faced a significant sales drop this year after consumers called for a boycott following the collaboration with transgender influencer Dylan Mulvaney. Modelo Especial surpassed Bud Light as America’s top-selling beer during the summer, ending Bud Light’s two-decade reign.