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A-B U.S. Depletions Down 2.1%

Dear Client:Among highlights for today's A-B earnings: U.S. shipments were up 1.2% on easy comps (down almost 2% for nine months), while depletions were down 2.1% (and down 1.9% for nine months). "Increased investments behind Stella Artois, Budweiser, Michelob Ultra and Goose Island are delivering good results, while volumes of Bud Light, the Rita's family and our value brands remain under pressure," per release. "Revenue per hectoliter growth of 1.5% was driven by favorable brand mix." For the full year

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