Diageo (DEO) FY24 Earnings & Sales Decline Y/Y on Soft Volume

On a reported basis, net sales declined 1.4% year over year to $20.3 billion due to lower organic sales and unfavorable currency impacts. Organic net sales were down 0.6% year over year due to a decline in volume partly offset by a favorable price mix. The company witnessed organic sales decline of 21% and 3% in LAC and North America, respectively. However, organic sales improved 3%, 4% and 12%, respectively, in Europe, Asia Pacific and Africa. Shares of the Zacks Rank #4 (Sell) company have lost 28.2% in t ...