Anheuser-Busch InBev NV CEO Carlos Brito will miss out on a bonus for the first time since 2008 after earnings at the Budweiser maker missed analysts’ estimates for a seventh straight quarter.
CFO Felipe Dutra also will receive nothing from the bonus pool, the Leuven, Belgium-based company said Thursday as it announced an increase to its cost-saving target that left some analysts disappointed. The stock fell as much as 3.3 percent in Brussels.
Fourth-quarter results missed estimates at almost all levels as the brewer continues to struggle with a slump in its key market of Brazil. Adjusted fourth-quarter earnings before interest, tax, depreciation and amortization fell to $5.25 billion, the brewer said in a statement. Analysts expected $5.64 billion.
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