Ambev

Ambev reported normalized EBITDA of R$7.6 billion for Q1 2026 (+10.1% organically), normalized net income of R$3.8 billion (+0.3%) and revenue of 4.33 M$; earnings per share beat expectations. Operating cash flow reached R$3.2 billion, and cash and cash equivalents stood at R$18.0 billion. Strong growth contributions came from the premium and "Balanced Choice" segments and from digital platforms BEES (GMV doubled) and Zé Delivery, which especially attract younger audiences. Management confirmed the cost guidance for Brazil beer (cash COGS +4.5% to +7.5%) and is focusing on digitization, portfolio premiumization and operational optimization as a three-pronged growth strategy. » Mais em de.investing.com

Ambev published the agenda for the ordinary and extraordinary shareholders’ meeting on April 30, 2026, in São Paulo. Shareholders will be asked to approve the 2025 financial statements, profit allocation (including interest on equity and dividends), the re-election of the nine-member board of directors and their alternates, and the management and fiscal council compensation. Proposed total executive compensation for 2026 is up to R$162.2 million, and fiscal council compensation up to R$2.47 million. Bylaw amendments related to capital increases, management rules, interim dividends and interest on equity are also scheduled for a vote. » Mais em de.investing.com

Barclays kept an Equal Weight rating on Ambev while raising its price objective to $3, citing a focus on profitability-led earnings and cash flow growth in 2026. Ambev reported Q4 organic net revenue growth of 4.8% driven by an 8.7% rise in net revenue per hectoliter despite a 3.6% volume decline; full-year organic net revenue rose 4.0%. Full-year normalized EBITDA increased 5.6% with margins up 50 basis points to 33.4%, normalized profit grew 1.6% to R$15.1 billion and operating cash flow was R$24.5 billion, down 6.3%. » Mais em finance.yahoo.com