Anheuser projects 12% EPS growth - earnings per share forecast raised - Brief Article

Modern Brewery Age, March 4, 2002

Anheuser-Busch reports that prospects for the U.S. beer market are strong, and has raised its target for 2002 earnings per share growth to 12 percent.

Anheuser execs also forecast double-digit earnings per share growth over the long-term, with a 12-percent target for the next few years.

The company reported that it has achieved revenue per barrel increases of 2% or more for 13 straight quarters as it continued to gain market share.

"Domestic beer fundamentals for both pricing and volume remain very favorable and Anheuser-Busch's competitive advantages are stronger than ever," said Chief Executive Officer Patrick Stokes. "Anheuser-Busch remains well-positioned to capitalize on key growth opportunities in the U.S. beer market and the company's international beer business continues to contribute significantly to Anheuser-Busch's earnings growth."

Vice President and CFO Randolph Baker noted the company's 13 consecutive quarters of double-digit earnings per share growth. He said there was increased confidence in A-B's domestic beer pricing and volume outlook for 2002. "As a result, we are increasing our target for 2002 earnings per share growth to 12 percent. In addition, we remain confident in our ability to consistently achieve double-digit earnings per share growth over the long-term, with a 12 percent target for the next few years," Baker said.