Ball Corporation, the world’s largest manufacturer of beverage cans, announced a 10% drop in volumes in the North and Central America regions due to the dramatic decline in Bud Light sales and slower beer sales overall.
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Bud Light sales are now down by 12% year-to-date following the conservative boycott surrounding transgender influencer Dylan Mulvaney Bud Light ad. Beer sales in general continue to be soft across the US as well.
The company’s third-quarter net sales dropped nearly 10% to $3.57 billion, missing analysts’ average estimate of $3.81 billion, according to an article in Reuters.
Lower aluminum costs and cost-cutting initiatives by the Colorado-based company helped to stem what could have been a bigger loss in profits.