The owner of Johnnie Walker and Guinness posted net sales of US$ 19.6 billion in the year to June 30, 3% less than the year before
Diageo, owner of Johnnie Walker Black Label, Guinness Draft and Smirnoff No. 21, published on August 6, 2026 its preliminary results for the fiscal year ended June 30. Organic net sales fell 2%, with volume down 0.4% and a negative price/mix effect of 1.6%. Reported net sales were US$ 19.643 billion, 3% below the previous fiscal year.
Operating profit before exceptional items rose 2% on an organic basis, to US$ 5.683 billion, and the margin expanded 116 basis points, to 28.9%. Free cash flow grew by US$ 463 million to reach US$ 3.2 billion, while leverage fell from 3.4 to 3.1 times net debt to EBITDA. The recommended dividend for the year was 50 US cents per share. Earnings per share before exceptional items came in at 165.3 cents.
Performance was uneven by region. In Latin America and the Caribbean, organic net sales rose 7.7% and operating profit 15.8%. In North America, the company's main market, sales fell 8.4% and operating profit 10%. In the results statement, the chief executive summed up the year as follows (in the original English):
We are pleased with our progress in LAC, Europe and Africa. We are focused on recovering our competitiveness in NAM.Sir Dave Lewis, chief executive of Diageo, in the fiscal 2026 preliminary results
The company said the new operating model cost US$ 0.8 billion in fiscal 2026, about 70% of the total cost of a two-year program, with the savings to be realized from fiscal 2027 onward. Among its brands, Diageo highlighted the performance of Guinness, Smirnoff RTD and Johnnie Walker. Latin America and the Caribbean, the region that includes Brazil, was the fastest-growing in the period.
Sources: Diageo – Fiscal 26 Preliminary Results (08/06/2026), Refinedrinks (08/06/2026).
