Ambev reports third-quarter sales below expectations as volume growth slows

Ambev reported third-quarter earnings of 4 cents per share, matching expectations, but sales of $3.983 billion fell short of the $4.082 billion forecast. Consolidated volumes dropped by 0.6%, though excluding Argentina showed a 1.3% increase. In Brazil, volumes rose by 1.3%, with beer sales up 0.6% and non-alcoholic beverages increasing by 3.4%. Premium beer brands saw significant growth, while overall volumes in Central America and the Caribbean decreased by 0.5%. The company's costs rose due to inflation and increased administrative expenses. Ambev's shares fell by 3.08% to $2.20 following the earnings report.