Diageo plc (DEO) Reports Fiscal 2026 First-Half Results

Financial Performance - Diageo plc reported fiscal 2026 first-half net sales of $10.46 billion, a 4.0% decrease from fiscal 2025 H1, with organic net sales dropping 2.8% [1] - The company reported an operating profit of $3.12 billion, reflecting a 1.2% decrease [1] - Basic EPS increased by 3.0% to 89.7 cents, while EPS before exceptional items decreased by 2.5% to 95.3 cents [1] Regional Performance - Growth was observed in Europe, Latin America and the Caribbean, and Africa, which countered weaker performance in North America and ongoing losses in Chinese white spirits in the Asia Pacific [1] Cash Flow and Debt - Diageo earned $2.12 billion in operating cash flow and $1.53 billion in free cash flow, both showing a year-on-year decline [2] - The company concluded the period with a net debt of $21.7 billion [2] Strategic Decisions - Diageo decided to sell its holdings in East African Breweries and the Kenyan spirits division to Asahi for $2.3 billion in net proceeds to reduce leverage [2] Company Overview - Diageo plc is involved in the manufacturing and distribution of alcoholic beverages, with brands including Johnnie Walker, Crown Royal, J&B, Buchanan's whiskies, Smirnoff, Ciroc, Ketel One vodkas, Captain Morgan, Baileys, Don Julio, Casamigos, Tanqueray, and Guinness [3]