Anheuser-Busch InBev sales of Bud Light fell and its market share slipped in the third quarter. The Belgium-based company is the world’s largest brewer. AB InBev said its U.S. sales fell 5.6 percent in the third quarter and the stock fell as much as 3.2 percent.
Reuters reports profits were also hit by hurricanes in Florida and Texas, which affected shipping. MarketWatch reports the losses were partially offset by AB InBev’s strong sales of Michelob Ultra and Stella Artois.
The beer company said it expects growth in its takeover of SABMiller and it will reach $3.2 billion by October 2020.