Quarterly ResultMay 6, 2026, 08:07 AM
Diageo Q3 Organic Net Sales +0.3%; Fiscal 26 Guidance Reiterated
AI Summary
Diageo reported a 0.3% increase in organic net sales for the third quarter of fiscal 2026, reaching $4.477 billion. The company experienced strong growth in Europe, Latin America and Caribbean, and Africa, which was largely offset by a high-single-digit decline in North America and a slight decline in Asia Pacific. Despite the mixed regional performance, Diageo reiterated its fiscal 26 guidance for organic net sales to be down 2-3% and organic operating profit to be flat to up low-single-digit. The Accelerate program remains on track to deliver approximately $300 million in savings.
Key Highlights
- Diageo's Q3 organic net sales grew 0.3% to $4.477 billion.
- North America organic net sales declined 9.4% due to soft market conditions and US Spirits weakness.
- Europe organic net sales grew 8.8%, led by Guinness in Great Britain and Ireland.
- Latin America and Caribbean organic net sales increased 16.2%, with growth across most key markets.
- Africa organic net sales grew 17.1%, driven by double-digit growth in East Africa and SWC.
- Asia Pacific organic net sales declined 0.8%, primarily due to weakness in Greater China's CWS.
- Fiscal 26 guidance for organic net sales (down 2-3%) and organic operating profit (flat to low-single-digit) was reiterated.
- The Accelerate program is on track to deliver approximately $300 million in savings by end of fiscal 26.