Anheuser-Busch profits climb 26 percent
St. Louis – Busch profits are going up.
The St. Louis-based maker of Budweiser, Bud Light and other beers said Wednesday its earnings rose 26 percent in the third quarter, driven by strong domestic beer revenue and productivity improvements, which helped offset energy cost pressures.
Net income crew to $638 million dollars, or 82 cents per share, for the period ending September 30th, up from $505 million, or 65 cents per share, a year ago.
Excluding one-time items, the company earned 76 cents per share in the year-ago period.
Gross sales before excise taxes rose nearly 5 percent to nearly $4.9 billion.
The company expects earnings to continue to improve in 2007.