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

• Ambev SA ABEV3.SA reported quarterly adjusted earnings of 28 centavos​​ per share for the quarter ended September 30, higher than the same quarter last year, when the company reported EPS of 24 centavos. The mean expectation of six analysts for the quarter was for earnings of 26 centavos per share. Wall Street expected results to range from 23 centavos to 29 centavos per share.

• Revenue rose 3.6% to R$21.59 billion from a year ago; analysts expected R$21.72 billion.

• Ambev SA's reported EPS for the quarter was 27 centavos​.

• The company reported quarterly net income of R$4.25 billion.

• Ambev SA shares had fallen by 0.9% this quarter and gained 10.6% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 0.4% in the last three months.​

• In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.

RECOMMENDATIONS

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy," 7 "hold" and 5 "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$16.00, about 4.9% above its last closing price of R$15.22

This summary was machine generated from LSEG data October 29 at 12:30 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)