Alcohol beverage company Diageo Plc (NYSE:DEO) shares are tumbling on Wednesday after it released worse-than-expected H1 FY26 results and provided weak FY26 guidance.
• Diageo shares are retreating from recent levels. What’s weighing on DEO shares?
Earnings Snapshot
The company, which owns Smirnoff, Guinness, Tanqueray, among others, reported net sales of $10.5 billion, missing the street view of $11.11 billion for the half year ended December 2025.
Net sales declined 4% primarily due to an organic net sales decline of 2.8% and the unfavorable impact of asset disposal.
Organic net sales were impacted by an organic volume decline of 0.9% and an unfavourable price/mix of 1.9%.
”Strong performance in Europe, LAC and Africa, …