Stock Analysis

Brewers sell beer through distributors, retailers, bars and restaurants, and they face pressure fromVolumetrends, shifting consumer preferences toward other beverages, and competition from craft and imported brands. Pricing, promotional spending and the cost of aluminum, barley and transportation affect margins. Excise taxes and currency …

Revenue from continuing operations was $567.8 million, up 0.2% from the prior-year period. On a pro forma adjusted constant currency basis, revenue increased 3.0%. The pro forma measure removes the effects of portfolio changes and currency movements, which allows a clearer comparison of the …

Third-quarter revenue grew 19% year over year. The company said growth was led by a 31% increase in its multi-family and commercial business. That segment's growth indicates thatDemandfor the company's products extended beyond the single-family housing market.

Third-quarter revenue of $639.6 million was up 35% from the prior-year period. On a combined basis, which presents the businesses as if they had been owned together in both periods, revenue grew 12.5%. The gap between the two growth rates shows that acquisitions accounted …

The difference between reported growth of 11% and pro forma growth of 12% suggests that changes in the company's portfolio reduced the reported figure slightly. Using the pro forma measure for comparisons gives a better sense of the underlying business, since the prior-year base …

Revenues and other income, including equity inEarningsof unconsolidated joint ventures, totaled $25.0 million for the quarter. That compares with $14.7 million in the third quarter of 2025, an increase of $10.3 million. The company'sRevenueline combines several activities, including farming, real estate sales and joint …

Adjusted EBITDA of $1.5 billion exceeded net income of $658 million by a wide margin, since it adds back depreciation, amortization, interest and taxes. The company's capital-intensive infrastructure generates large non-cashDepreciationcharges, which is why the company and its peers emphasize adjusted EBITDA when comparing …