DEO Stock Recent News

Diageo, the maker of Johnnie Walker and Smirnoff, has been hit by a slowdown in Latin America, the Caribbean and the US. That resulted in the British distiller posting its first annual sales decline since the pandemic.

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

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 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.

Investors interested in stocks from the Beverages - Alcohol sector have probably already heard of Kirin Holdings Co. (KNBWY) and Diageo (DEO). But which of these two stocks presents investors with the better value opportunity right now?

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​​.

Diageo's (DEO) FY24 results are likely to reflect negative consumer sentiment and increased inventory levels in LAC, pressured further by escalating input costs.

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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.