Heineken Cuts Beer Volume Guidance on Weak Consumer Sentiment

By Aimee Look

Heineken forecast a decline in full-year beer volumes and said adjusted earnings would come in at the lower end of its previous guidance, citing weak consumer sentiment and a challenging third quarter.

The Dutch brewer said Wednesday that it expects volume to decline for the year--after previously saying in July it forecast volume to remain broadly stable for the year.

The group had also expected full-year operating profit before exceptional items and amortization to grow 4% to 8% organically, and now sees it at the lower end of the range, it said.

The company said its revised outlook was based on its current assessment of short-term consumer demand and challenging conditions in the third quarter in light of economic volatility, weak consumer sentiment, inflationary pressures and currency swings.

Heineken reported revenue of 8.71 billion euros ($10.10 billion) for the quarter, a 4.0% year-over-year decrease. The closely-watched metric of adjusted net revenue fell 0.3% organically to 7.33 billion euros.

Adjusted net revenue was forecast to decline 0.8% organically to 7.33 billion euros, consensus estimates compiled by the company showed.

Beer volumes declined 4.3% organically for the quarter, Heineken said.

Write to Aimee Look at aimee.look@wsj.com

(END) Dow Jones Newswires

October 22, 2025 01:54 ET (05:54 GMT)