What Makes Ambev (ABEV) a Uniquely Positioned Company?

In its first-quarter 2026 capitalist letter, Loomis Sayles Global Growth Fund highlighted Ambev S.A. (NYSE:ABEV) arsenic a starring contributor. Ambev S.A. (NYSE:ABEV) is simply a starring Brazilian beverage institution that engages successful the production, distribution, and merchantability of beer, draught beer, brushed drinks, malt and food, and different beverages. On May 20, 2026, Ambev S.A. (NYSE:ABEV) closed astatine $3.23 per share. One-month instrumentality of Ambev S.A. (NYSE:ABEV) was 9.86%, and its shares gained 28.69% implicit the past 52 weeks. Ambev S.A. (NYSE:ABEV) has a marketplace capitalization of $50.3 billion.

Loomis Sayles Global Growth Fund stated the pursuing regarding Ambev S.A. (NYSE:ABEV) successful its Q1 2026 capitalist letter:

"Ambev S.A. (NYSE:ABEV) is the starring brew brewer and distributor successful South America and among the 5 largest brewers globally. Operating successful 18 countries passim South America, Central America, and the Caribbean, arsenic good arsenic successful Canada, Ambev is the marketplace stock person successful its 3 largest markets, including its location marketplace of Brazil, the third-largest marketplace for brew depletion aft the US and China. The institution owns a fig of starring section brew brands, including Skol and Brahma successful Brazil and Labatt successful Canada, and its entree to the marque portfolio of majority-owner Anheuser-Busch Inbev (ABI) gives Ambev a affluent portfolio of premium imports arsenic well. The company’s standard successful manufacturing and organisation alteration it to service arsenic the exclusive bottler and distributor of Pepsi products successful Brazil and different Latin American countries.

A money holding since the 3rd 4th of 2017, Ambev reported quarterly fiscal results that reflected coagulated execution nether hard marketplace conditions. The institution reported that gross roseate 5% implicit the prior-year quarter, contempt weakness successful the company’s 2 largest markets, Brazil and Argentina. In Brazil, unfavorable upwind impacted results manufacture wide. Ambev, owed to its semipermanent focus, continues to put successful innovation successful some its products and concern exemplary successful beforehand of peers. The institution continues to summation marketplace stock successful the faster increasing premium and super-premium categories which successful Brazil grew by a mid-teens percent portion wide brew volumes declined during the period. The institution besides saw 30% measurement maturation successful non-alcoholic brew during the quarter, highlighting its enactment successful the segment. While wide EBITDA (earnings earlier interest, taxes, depreciation and amortization) margins of 33.4% declined 110 ground points twelvemonth implicit year, the institution continues to marque advancement successful regaining pre-pandemic borderline levels, which we judge tin attack 40% implicit our semipermanent concern horizon. In Argentina, continued ostentation continues to unit brew volumes, but the institution was inactive capable to make high-single-digit integrated gross maturation owed to pricing gains. We judge Ambev’s beardown and sustainable competitory advantages see its portfolio of starring determination and planetary brew brands, its difficult-to-replicate section standard successful manufacturing, and beardown organisation capabilities, which lend to monopoly-like positioning successful galore of its cardinal markets and charismatic fiscal returns. With its portfolio of regionally ascendant brands, Ambev holds the starring marketplace stock successful 10 countries which relationship for implicit 90% of its brew measurement and value. In summation to the spot of its brands, Ambev has achieved section standard successful manufacturing that we judge would beryllium hard to profitably replicate fixed the operation of outgo and marketplace sizes. ….” (Click present to work the afloat text)