U.S. Turnaround Takes Center Stage in ABI Call

Dear Client:  The U.S. market was once again a focal point in Anheuser-Busch InBev’s earnings call yesterday, both in prepared remarks and throughout Q&A. Analysts repeatedly highlighted what one called the “terrific” turnaround underway, pressing chief Michel Doukeris on what’s driving the improvement, whether the playbook is replicable elsewhere, and how much bigger its red-hot beyond beer biz can get from here. The attention is notable for a business that, at a 30,000-foot view, didn’t exactly set the world on