Anheuser-Busch Touts U.S. Share Gains Again as Q2 Depletions Turn Negative

Dear Client: The latest U.S. numbers are in from A-B, and they paint another mixed quarter, with revenue accelerating and bev alc share gains continuing; though depletions turned negative in Q2 after having returned to growth in Q1. Q2 U.S. DEPLETIONS DOWN 1.9%, SHIPMENTS DOWN 0.6%, REV UP 2.7%. After posting slight depletion growth in Q1 (+0.3%), A-B’s U.S. depletions slipped back into decline in Q2 (-1.9%), though the company continued to say it "outperformed a soft industry." Shipments, meanwhile,