The earnings call presented a mix of positive and negative elements. While the company showed a return to organic net sales growth, market share gains, and strong performance in key segments like Tequila and Guinness, it also faced challenges such as a decline in Scotch sales, operating profit, the impact of new tariffs, and a drop in EPS. The uncertainty around tariffs adds complexity to the business outlook.

Company Guidance

In the first half of fiscal year 2025, Diageo reported a 1% growth in organic net sales, with significant contributions from the North American and Latin American regions. Market share was either held or increased in 65% of measured markets, notably in North America and Greater China. Despite a challenging macroeconomic environment and recent tariff announcements, the company maintained a strong performance in various categories, including Tequila, which saw a 21% rise in organic net sales. Guinness continued its momentum with 17% growth, marking its eighth consecutive half of double-digit growth. However, Scotch faced a 5% decline due to softer industry performance. The company's strategic investments in digital and market routes are aimed at enhancing financial resilience and achieving sustainable long-term growth. Diageo's focus remains on driving stronger execution and leveraging its diverse portfolio to respond to emerging consumer trends across regions.

Organic Net Sales Growth

The company returned to organic net sales growth of 1% in the first half of fiscal '25, with growth in four out of five regions, including North America.

Market Share Gains

Held or gained market share in 65% of net sales in measured markets, with share gains in the U.S., most of Europe, and Greater China.

Tequila and Guinness Performance

Tequila organic net sales were up 21%, with Don Julio leading the growth. Guinness achieved its 8th consecutive half of double-digit growth, delivering 17% organic net sales growth.

Free Cash Flow Improvement

Free cash flow increased by $125 million to approximately $1.7 billion, driven by working capital management.

Diageo (DEO) Earnings, Revenues Date & History

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DEO Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jan 29, 2026	2026 (Q2)	4.00 / -	3.908	―	―	―
Aug 05, 2025	2025 (Q4)	2.48 / 2.64	2.88	-8.33% (-0.24)
Feb 04, 2025	2025 (Q2)	4.04 / 3.91	4.32	-9.54% (-0.41)
Jul 30, 2024	2024 (Q4)	2.92 / 2.88	1.561	84.50% (+1.32)
Jan 30, 2024	2024 (Q2)	4.24 / 4.32	4.858	-11.07% (-0.54)
Aug 01, 2023	2023 (Q4)	3.33 / 1.56	3.19	-51.07% (-1.63)
Jan 26, 2023	2023 (Q2)	5.13 / 4.86	4.575	6.19% (+0.28)
Jul 28, 2022	2022 (Q4)	2.72 / 3.19	2.66	19.92% (+0.53)	―	―
Jan 27, 2022	2022 (Q2)	4.46 / 4.58	3.699	23.68% (+0.88)	―	―
Jul 29, 2021	2021 (Q4)	2.46 / 2.66	1.521	74.88% (+1.14)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

DEO Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 05, 2025	$98.17	$101.70	+3.60%
Feb 04, 2025	$115.22	$114.25	-0.84%
Jul 30, 2024	$127.21	$121.23	-4.70%
Jan 30, 2024	$138.26	$138.36	+0.07%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.