Diageo (DEO) FY24 Earnings & Sales Decline Y/Y on Soft Volume
Diageo's (DEO) FY24 results reflect the impacts of soft volume particularly in LAC and North America, which hurt organic sales. Soft operating profit and higher costs hurt the bottom line.
Lloyds Banking Group, BP, Diageo, Greggs – News Defused
Markets Defused is an easy-to-understand and straightforward recap of the day's most engaging business and stock market news. Lloyds dropped with investors uneasy over motor probe Diageo shares dropped despite surge in Guinness sales BP's latest bumper earnings beat expectations Greggs dividend boon boosted shares Diageo shares dropped despite surge in Guinness sales Diageo PLC (LSE:DGE) shares closed Tuesday's session more than 5% lower, after its full-year financials fell short of market forecasts.
Why Diageo Stock Was Slipping Today
Diageo posted a decline in sales and profits for its fiscal year. Consumer demand has been weak.
Diageo Plunges as Johnnie Walker Maker Posts LatAm, North American Weakness
Diageo (DEO) American depositary receipts (ADRs) plunged about 6% soon after the opening bell Tuesday after the alcoholic beverage giant posted a drop in its full-year sales through June, dragged lower by declines in Latin America and the Caribbean (LAC) and a weak North American market.
Diageo Sinks 9% As FTSE Firm Announces First Sales Drop Since 2020
Diageo's share price plunged after the drinks giant announced its first sales reversal since the depths of the Covid-19 pandemic.
Johnnie Walker-maker Diageo plunges 10% on full-year sales decline, but Guinness a bright spot
Johnnie Walker-maker Diageo plunges 10% on full-year sales decline, but Guinness a bright spot
Guinness maker Diageo's profits leak more than expected
Diageo PLC (LSE:DGE), the maker of alcoholic drinks including Guinness and Smirnoff, has reported a fall in annual sales and profit, but increased its dividend payout as it eyed a return to growth. Group sales declined 0.6% to $20.3 billion in the year to 30 June, due to a 3.5% drop in sales volumes, mostly from a larger-than-forecast 21.1% plunge in Latin America and the Caribbean, while North American sales were down 2.5%.
Diageo results tomorrow to be a deck clearing, says Citi
Diageo PLC (LSE:DGE) full-year results tomorrow will be ‘a clearing event', suggest the analysts at Citi. On-going weak consumer off-take trends for spirits in North and destocking through Jan-June 2024, coupled with lacklustre trading in China, means the numbers won't be pretty and more earnings downgrades are likely to follow.
Diageo set for first post-COVID annual sales decline
Diageo is set to post its first yearly sales decline since 2020 next week, when it needs to convince investors that plans to turn around its North American and Latin American businesses are showing progress.
LVMH's liquid sales decline sparks spillover concerns for Diageo
The problems continue to pile up for global luxury bellwether LVMH, this time in the wine and spirits division. First-half results show a 9% year-over-year decline in organic liquid sales in the period, driven by weak local demand and destocking in China, as well as lower demand in Europe and the US.
Will LAC Issues & Inflation Hurt Diageo's (DEO) FY24 Earnings?
Diageo's (DEO) FY24 results are likely to reflect negative consumer sentiment and increased inventory levels in LAC, pressured further by escalating input costs.
Diageo Still Fits In A Diversified Portfolio
Diageo is the market leader in spirits and has historically been valued at a rich Price to Earnings Ratio. Since December 2021, its stock price is in decline due to internal setbacks with inventory and consumer shifts after the pandemic. If the company is able to grow at its historical level, investors should have a decent return due to its growing Net Income, Dividends and Buybacks.
