0806 GMT - Diageo's North America missed expectations while Latin America, Europe and Asia-Pacific performance was above market views, RBC Capital Markets James Edwardes Jones and Emma Letheren say in a note. The liquor maker reported 3.0% organic sales growth compared with 6.4% consensus in the U.S. market, they highlight. Given that North America isn't just the largest market for the liquor maker--representing more than 50% of its FY 2022 EBIT--but also the highest margin, making the miss "the most significant element of these results", they add. "Outlook remains for FY 2023 sales growth...but U.S. sales growth 'to continue to normalize' with (we presume deliberately) vague margin comments," they add. (michael.susin@wsj.com)
Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswires
01-26-23 0430ET
