A-B’s fourth-quarter earnings rise 12 percent

Anheuser-Busch Cos. this afternoon reported jumps in fourth-quarter earnings and sales as its main U.S. business grew.

St. Louis-based A-B, the country’s biggest brewer, reported a net profit of$214 million, or 29 cents a share, for the quarter that ended Dec. 31. A year ago, the company reported a fourth-quarter profit of $191 million, or 25 cents a share.

The earnings per share results fell short of Wall Street’s expectations. Fourteen analysts polled by Thomson Financial had predicted Anheuser-Busch would earn 32 cents per share.

But the company beat top-line expectations by recording $3.7 billion in quarterly revenue, an 8 percent jump from $3.42 billion in the same period a year before.

“Anheuser-Busch achieved significant results in 2007,” Chief Executive August A. Busch IV said in a statement. “We achieved strong earnings growth and broadened our beer portfolio to enhance our participation in the high-end segment.” Busch also touted growth in revenue per barrel and cash flow from operations.

The company’s U.S. sales increased 8 percent due to bigger shipments, higher prices and consumers moving to higher-priced beers. International beer sales jumped 11 percent, primarily because of greater beer shipment in China, Canada and Mexico.

Anheuser-Busch had net sales of $16.7 billion in the full year, up 6 percent from 2006. Its full-year profits jumped to $2.1 billion or $2.79 per share, up from $1.96 billion or $2.53 per share in 2006. 

Shares fell 56 cents or 1.2 percent, standing at $46.70 at 1:47 on the New York Stock Exchange.

Related link: Fox Business News interview