Once again, Anheuser-Busch (NYSE:BUD) is demonstrating the power of its brand. After serving up its 19th consecutive quarter of double-digit earnings growth, the world's largest brewer showed up one of its competitors and said it would be instituting another price increase in the coming months.

The company posted second-quarter earnings of $0.75 per share yesterday, up 14% year over year. Top-line revenue grew 4%, while both gross and operating margins also increased.

CEO Patrick Stokes told investors he's confident of achieving consistent double-digit earnings growth over the long term. That's a tough objective, but one of the reasons he must be taken seriously is the power of Anheuser-Busch's brands. Names like Budweiser, Bud Light, Michelob, Busch, and Bacardi have extremely loyal customers.

That loyalty will allow management to institute another price increase later this year "tailored to specific markets, brands and packages." Few companies enjoy that kind of pricing power, especially in a down economy.

Fellow brewer Adolph Coors' (NYSE:RKY) earnings from today provide a perfect example. The maker of Coors, Keystone, and Killian's beer saw earnings increase by 14%, but that was largely due to a lower tax rate. Its operating income actually declined 4% because of a "soft U.S. beer industry" and "poor weather." Anheuser-Busch faced those same obstacles, yet saw operating income increase by 7%.

For now, at least, the King of Beers is worthy of its name.