A-B Q2 Call: Ritas Dragging on U.S. Mix But Innovations Still Worth it

Dear Client: We reported A-B U.S. Q2 results are down 2.2% in depletions and 1.1% in shipments, with revenues per hectoliter up a mere 1.2%. Chief Carlos Brito blamed the sales performance on a familiar culprit. The U.S. economy is improving but "weather was a major negative factor" in the quarter. "May was the wettest month in well over 100 years," he said. "June weather was also poor." (Still, they continue to see improving trends for industry, full year: Their