On July 26, Anheuser-Busch (NYSE:BUD) released second-quarter earnings for the period ended June 30, 2006.
- Sales volumes increased domestically and internationally.
- Along with its earnings announcement, the company increased its dividend by 9.3%.
- Free cash flow improved dramatically, thanks to lower capital expenditures.
(Figures in millions, except per-share data)
Income Statement Highlights|
Avg. Est. |
Q2 2006 |
Q2 2005 |
Change | |
|---|---|---|---|---|
|
Sales |
$4,170 |
$4,256 |
$4,018 |
5.9% |
|
Net Profit |
-- |
$638 |
$594 |
7.4% |
|
EPS |
$0.76 |
$0.82 |
$0.76 |
7.9% |
|
Diluted Shares |
777 |
782 |
(0.7%) |
Get back to basics with a look at the income statement.
Margin Checkup|
Q2 2006 |
Q2 2005 |
Change* | |
|---|---|---|---|
|
Gross Margin |
37.48% |
38.28% |
(0.8) |
|
Operating Margin |
20.70% |
20.56% |
0.14 |
|
Net Margin |
14.99% |
14.77% |
0.22 |
*Expressed in percentage points.
Margins are the earnings engine. See how they work.
Balance Sheet Highlights|
Assets |
Q2 2006 |
Q2 2005 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$223 |
$137 |
62.3% |
|
Accounts Rec. |
$967 |
$964 |
0.3% |
|
Inventory |
$656 |
$711 |
(7.7%) |
|
Liabilities |
Q2 2006 |
Q2 2005 |
Change |
|---|---|---|---|
|
Accounts Payable |
$1,251 |
$1,155 |
8.2% |
|
Long-Term Debt |
$7,837 |
$8,275 |
(5.3%) |
Learn the ways of the balance sheet.
|
Q2 2006 |
Q2 2005 |
Change | |
|---|---|---|---|
|
Cash From Ops. |
$1,380 |
$1,329 |
3.8% |
|
Capital Expenditures |
$318 |
$565 |
(43.7%) |
|
Free Cash Flow |
$1,061 |
$764 |
39% |
Find out why Fools always follow the money.
Related Companies:
- Molson Coors Brewing Company (NYSE:TAP)
- Boston Beer Company (NYSE:SAM)
- Mexican Economic Development (NYSE:FMX)
- Diageo (NYSE:DEO)
- AmBev (NYSE:ABV)
Related Foolishness:
Anheuser-Busch is a Motley Fool Inside Value selection. Diageo is a Motley Fool Income Investor selection.
Fool by Numbers is designed to give you the raw earnings information in a timely fashion, putting all the numbers you need in one easy-to-read place. But at The Motley Fool, we believe numbers tell only part of the story, so check Fool.com for more of our in-depth discussion of what the numbers mean.
At the time of publication,Nathan Parmelee had no positions in any of the companies mentioned. Fool rules are here.
