Abstract

United Breweries will release its quarterly results on February 24, 2026 Post Market, and this preview summarizes revenue, margin, EPS and EBIT expectations alongside current institutional sentiment in the defined window.

Market Forecast

Based on current projections, United Breweries’ revenue for the upcoming quarter is expected to be 969.97 million, up 21.81% year over year, with EPS projected at 0.37, up 48.00% year over year, and EBIT forecast at 127.22 million, up 48.37% year over year. No explicit guidance was found for gross profit margin or net profit margin in the current quarter.

The most recent reporting period shows the Chile Operations segment as the core contributor to top line. International Business appears to hold the strongest potential for incremental growth within the portfolio, generating 168.88 million last quarter; segment-level year-over-year data was not disclosed.

Last Quarter Review

United Breweries reported revenue of 686.67 million, a gross profit margin of 42.50%, GAAP net profit attributable to the parent company of approximately 16.13 million, a net profit margin of 2.35%, and adjusted EPS of 0.09, down 49.42% year over year.

A notable highlight was the quarter-on-quarter net profit rebound, with net profit rising by 238.14%. In terms of business mix, Chile Operations delivered 452.60 million, International Business contributed 168.88 million, Wine delivered 79.23 million, and Other was a negative 14.03 million, while total revenue declined 4.08% year over year.

Current Quarter Outlook (with major analytical insights)

Chile Operations

Chile Operations remains the backbone of United Breweries’ revenue base, accounting for 65.91% of last quarter’s revenue at 452.60 million. With total company revenue projected to increase by 21.81% year over year this quarter, the Chile portfolio’s price-mix execution and channel performance will be important determinants of whether gross margin can hold near the prior 42.50% level or edge higher. Packaging and input costs, including commodities used in brewing and bottling, will influence the cost of goods sold trajectory; if procurement discipline and product mix optimization continue to interact favorably, EBIT leverage could align with the 48.37% year-over-year EBIT growth reflected in estimates. Promotional cadence and retail execution are also relevant for volume stability, and even modest improvements in throughput can translate to margin support in this segment given its scale in the group.

International Business

International Business contributed 168.88 million last quarter and is positioned to be a meaningful swing factor for consolidated growth in the current quarter. While explicit segment-level year-over-year growth data was not disclosed, the company-level revenue estimate of 969.97 million and EPS estimate of 0.37 point to a constructive top-line and profit trajectory. The combination of disciplined pricing, portfolio premiumization and operational efficiencies can support margin resilience outside Chile; if volume trends remain steady and pricing initiatives maintain elasticity within acceptable ranges, EBIT and EPS can benefit. Currency translation and local cost inflation are variables to monitor in this segment, and consistent execution across geographies will be integral to converting revenue growth into margin expansion.

Key Stock Price Drivers

The stock this quarter will likely react most to the magnitude of the EPS inflection versus the prior quarter and the visibility of that improvement into subsequent periods. The market currently expects EPS of 0.37, a substantial step-up from the prior quarter’s 0.09, which implies meaningful operating leverage and/or margin expansion relative to recent performance. Revenue trajectory is also central: with estimates calling for 969.97 million in sales, the composition of growth—whether from pricing, mix, or volume—will guide investor confidence in the sustainability of EBIT, which is forecast to rise 48.37% year over year. Any deviations in gross margin relative to the prior 42.50% baseline, especially if attributable to input costs or promotional intensity, could amplify share price moves. Execution in Chile Operations, the pace of International Business revenue conversion to operating profit, and the balance of working capital relative to growth will collectively shape market reaction to reported results.

Analyst Opinions

Bearish opinions represent the clear majority of published views within the accessible window. Goldman Sachs maintained a Sell rating on United Breweries’ ADR (CCU) with a price target of $10.00, emphasizing caution around near-term profitability and valuation. The key elements of this stance align with observable data: last quarter’s adjusted EPS was 0.09 with a 49.42% year-over-year decline, and while the current quarter’s EPS estimate of 0.37 suggests improvement, the durability of that rebound—especially in relation to margin sustainability—remains a focal point for skeptics. The firm’s perspective also reflects sensitivity to operational variables such as input costs, promotional spending, and the translation of revenue growth into bottom-line outcomes; given last quarter’s net profit margin of 2.35% on 686.67 million revenue, the margin framework is still tight. In the context of the projected 21.81% year-over-year increase in revenue and 48.37% increase in EBIT, bearish observers are likely to scrutinize the degree of recurring efficiency gains and the balance of price versus volume. The Sell view underscores an expectation for cautious positioning until there is stronger evidence of sustained margin expansion across the portfolio, particularly in the core Chile Operations and higher-velocity International Business channels, where execution quality and cost control will be decisive for EPS continuity beyond the upcoming print.