AB InBev(BUD) reported Q1 EPS of $0.51/share on revenues down 10.1% to $9.4 billion. That's a tough decline in revenues to take, but I think the company will work to fix this once the SABMiller transaction closes. That should allow it to focus more. The company did not make any changes to guidance. The shares are down over 2%. Here is what management had to say.
"The first quarter of 2016 saw a strong volume performance in Mexico, as well as improving volume trends in the US and Europe. However, our business in Brazil experienced one of its most challenging quarters in many years, as anticipated.
We expect the macroeconomic environment to remain challenging in a number of our markets. However, we have solid plans in place to address these challenges, and remain cautiously optimistic for the rest of the year. Consequently, we have not made any changes to our previous FY16 guidance. "
Hain Celestial(HAIN) reported Q3 EPS of $0.47/share on revenues up 13% to $750 million. The company updated FY'16 guidance to $2.00-$2.04 per share(Non-GAAP). The shares are up 8% this morning. Considering how beaten down the shares were it's kind of expected. Since the February lows the shares are up 30%. Here is what CEO Irwin Simon had to say.
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