Anheuser-Busch InBev (BUD) shares slipped over 3% Thursday after the company reported fourth-quarter revenue in the U.S. dropped 17.3% from a year ago, with sales-to-retailers (STRs) sliding 12.1%, primarily due to a decline in Bud Light volume following a boycott of the brand. 

Overall revenue was up 6.2% to $14.47 billion, missing estimates. 💟Volumes dipped 2.6%, with bꩲeer volumes sliding 3.6% and non-beer volumes rising 3%. Earnings per share of 82 cents exceeded expectations.

Once America’s best-selling beer, Bud Light 澳洲幸运5官方开奖结果体彩网:lost the title to Constellation Brands’ (STZ) Modelo Especial following the the brand's partnership with transgender sociඣal media influencer Dylan Mulvaney last spring.

The company has been trying to bring back customers with ads during sporting events, such as the Super Bowl, and concerts. CEO Michel Doukeris told analysts that the beer has been slowly regaining U.S. market share since May. The company said the board approved a 9% increase in its annual dividend to 0.82 euros (89 cents) per share. 

Anheuser-Busch also noted that it reached a tentative agreement with the Teamsters union to avoid a strike by some 5,000 U.S. employees.

Shar🦩es of Anheuser-Busch InBev lost 3.3% to $60.37𒀰 Thursday following the news.

UPDATE—March 1, 2024: Th💮is article was updated to clarify the backlash included a boycot𓆏t.