[Durus]

It's interesting that they are selling more beer, and grossing more money but had a "profits" slump. Did their taxes go up? Did they have an unexpected capital expenditure? There is more to this story than meets the eye. Remember when even hack journalists covered the basic questions?

[IamConservative]

Did their taxes go up? Did they have an unexpected capital expenditure?

I'd guess the price of grain and trucking went up, just as our food and energy prices have..

[Sam's Army]

"There is more to this story than meets the eye."

Yes, likely a combination of factors: consumer tastes are changing as far as beer is concerned (more micro-breweries), certainly many commodity costs are rising.

But also, InBev can be accused of having a particular disregard for its own consumers. From 2012:

"And he’s (InBev's CEO) risking the devotion of American beer lovers by fiddling with the Budweiser recipe in the name of cost-cutting."

The Plot to Destroy America's Beer:

http://www.businessweek.com/articles/2012-10-25/the-plot-to-destroy-americas-beer

[Georgia Girl 2]

Well they bought a NY brewery but I think that was only $40 or $50 million. That deal has to close by June. I also heard they are making 2 additional acquisitions but they have not yet been announced as far as I know.