Anheuser-Busch InBev reported Q2 results this morning. In the U.S., depletions were down 3.1% in the quarter, slightly better than their Q1. For this, A-B blamed weak industry trends (-2.4%) and Easter and July 4 timing. Shipments were down more, 5.1% (last quarter that was down 4.4%). They expect depletions and shipments to converge for the full year.