Dear Client: Anheuser-Busch InBev's earnings call doesn’t usually give a ton of air time to the U.S. business, despite the region’s importance to the brewer. But the airtime it did get on yesterday’s Q4 call went almost entirely to beyond beer and upscale brands like Cutwater and NÜTRL, and to a lesser extent, Mich Ultra. Perhaps that’s unsurprising, considering that A-B’s above core portfolio and beyond beer brands now represents over 40% of their revenue. For example, in one of
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