Why Alcoholic Beverage Company Diageo Stock Is Tumbling Today
Portfolio Pulse from Lekha Gupta
Diageo PLC (DEO) shares fell by around 13% after the company warned about weak H1 FY24 results. The company expects slower growth in H1 FY24 than H2 FY23 due to a weaker performance outlook in Latin America and Caribbean. Total organic net sales are projected to fall by over 20% Y/Y, and total organic operating profit to decline Y/Y. However, DEO expects an improvement in H1 organic net sales growth vs. H2 FY23 in North America and Africa and continued momentum in Europe and Asia Pacific.
November 10, 2023 | 12:15 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Diageo PLC (DEO) shares fell by around 13% after the company warned about weak H1 FY24 results. The company expects slower growth in H1 FY24 than H2 FY23 due to a weaker performance outlook in Latin America and Caribbean.
The company's warning about weak H1 FY24 results and slower growth due to weaker performance in Latin America and Caribbean has led to a significant drop in the company's share price. This negative news is likely to continue impacting the company's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100