Anheuser-Busch InBev (NYSE:BUD) stock surged over 8% in pre-market trading on Wednesday, following the beer giant's strong fiscal 2024 results driven by robust performance across key markets and market share gains.

For the fourth quarter, BUD reported organic revenue growth of 3.4% and a 10.1% increase in normalized EBITDA. The company estimates it gained or maintained share in two-thirds of its markets in the quarter, led by continued strength in its megabrands like Corona and Budweiser.

While total volumes for fiscal 2024 declined 1.4% due to headwinds in China and Argentina, BUD's revenue per hectoliter grew a solid 4.3% driven by premiumization efforts and revenue management initiatives. The company's underlying earnings per share rose an impressive 15.4% for the full year.

Notably, BUD continued optimizing its business, reducing net debt to 2.89 times EBITDA as of year-end - the first time this key leverage metric has fallen below 3x since 2015. The company's Board also proposed a 22% dividend increase to 1.00 EUR per share, reflecting its commitment to returns for shareholders.

Looking ahead, BUD expects fiscal 2025 EBITDA growth of 4% to 8%, as it continues investing behind its iconic brands, innovations and its digital transformation initiatives to drive long-term growth in the global beer category.