USA: Anheuser-Busch Announces Record Sales and Earnings for the Second Quarter and First Six Months of 2000
Led by the combination of higher beer volume and increased revenue per barrel, Anheuser-Busch Companies, Inc. (NYSE:BUD) achieved record sales and earnings for the second quarter and first six months of 2000, it was announced today by August A. Busch III, Chairman of the Board and President. Second quarter and first six months earnings per share were up 15.6 percent and 15.4 percent, respectively, compared to last year. "This is the seventh consecutive quarter of double-digit earnings per share growth for the company," said Mr. Busch. "With the strongest brand portfolio in the domestic beer industry, we are uniquely positioned to take advantage of continuing strong industry fundamentals. As a result, we continue to achieve significant increases in sales volume and revenue per barrel, resulting in accelerated earnings per share growth. For 2000, the company expects earnings per share growth in the 14 percent to 15 percent range. Longer term, we are confident in our ability to consistently achieve our double-digit earnings per share growth objective," said Mr. Busch. As a result of this positive earnings growth outlook and Anheuser- Busch's strong stock price performance, the company also announced today a two-for-one common stock split and a 10 percent increase in the quarterly dividend to 33 cents from 30 cents, payable in September. Domestic beer shipments increased 4.2 percent for the second quarter and 3.3 percent for the first six months of 2000, Mr. Busch said. Domestic sales to retailer volume was up 3.6 percent for the second quarter and 3.9 percent for the first six months of 2000. Volume growth was led by the Bud Family along with increased Michelob brand family sales. Domestic revenue per barrel grew 2.2 percent for the second quarter and first six months of 2000, compared to the same periods last year. The company's beer volume is summarized in the following table:
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