Ambev SA reports results for the quarter ended June 30 - Earnings Summary

• Ambev SA ABEV3 reported quarterly adjusted earnings of 17 centavos​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of 15 centavos. The mean expectation of six analysts for the quarter was for earnings of 18 centavos per share. Wall Street expected results to range from 17 centavos to 20 centavos per share.

• Revenue rose 0.2% to R$20.09 billion from a year ago; analysts expected R$21.35 billion.

• Ambev SA's reported EPS for the quarter was 17 centavos​.

• The company reported quarterly net income of R$2.72 billion.

• Ambev SA shares had fallen by 1.3% this quarter and gained 14.1% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 7.6% in the last three months.​

• In the last 30 days, two analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy," 9 "hold" and 2 "sell" or "strong sell." The average consensus recommendation for the brewers peer group is "buy."

• Wall Street's median 12-month price target for Ambev SA is R$14.75, about 10.8% above its last closing price of R$13.15

This summary was machine generated from LSEG data July 31 at 02:08 p.m. UTC. ​All figures in Brazilian reais unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)