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Diageo releases transcript of fiscal 2026 Q3 trading statement call

PUBT·05/06/2026 17:38:33
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Diageo releases transcript of fiscal 2026 Q3 trading statement call
  • Diageo fiscal 2026 Q3 trading statement call led by CEO Sir Dave Lewis, CFO Nik Jhangiani, joined by Head of IR Sonya Ghobrial.
  • Organic net sales rose 0.3% on 0.4% volume growth; North America organic net sales fell 9.4% with US spirits down 15.4%, while Europe rose 8.8%, LAC rose 16.2%, Africa rose 17.1%, Asia Pacific slipped 0.8% on more than 20% decline in Chinese white spirits.
  • Guidance reiterated for organic net sales down 2%-3% with organic profit growth flat to up low single digits; free cash flow still seen at about USD 3 billion, before about USD 100 million one-off inventory build tied to SAP S/4 HANA rollout at start of fiscal 27.
  • Accelerate cost program remained on track for about USD 300 million savings by end of fiscal 2026; planned deleveraging supported by USL sale of Royal Challengers Bengaluru stake, expected disposal of EABL shareholding in second half of calendar 2026.
  • Management flagged stepped-up US competitiveness actions, including Casamigos price testing with early positive results, tequila price repositioning in Mexico to rebuild share, leadership change with John O’Keeffe put in charge of US, strategic refresh set for Capital Markets Day on Aug. 6 with FIFA World Cup activation a key near-term catalyst.


Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Diageo plc published the original content used to generate this news brief on May 06, 2026, and is solely responsible for the information contained therein.