Diageo PLC

DGE: XLON (GBR)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	GBX 3,265.00	Bhzbt	Dkghrgks

Diageo Earnings: Solid Fundamentals Persist Despite Unfavorable Market Sentiment

Jelena Sokolova ,

Jul 30, 2024

Wide-moat Diageo finished its fiscal-year 2024 in June and delivered somewhat meager preliminary results for the whole year, largely in line with the company-compiled consensus. Despite overall volume weakening, Diageo managed to slightly extend or keep its global market share in over 75% of its presence based on net sales. Diageo showed sound productivity savings and significant free cash inflows, allowing for the proposed full-year dividend increase by 5%. Management remains positive about future consumer sentiment reversal and the return of organic net sales growth. We maintain our fair value estimates of GBX 3,100/USD 157 per share.

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