Diageo Plc · LSE:DGE
Diageo — Q3 2026 Earnings Presentation
12 slides from Diageo's earnings presentation, May 6, 2026
Slide 1: Fiscal 26 Q3 Trading Statement
Fiscal 26 Q3 Trading Statement Sir Dave Lewis, CEO & Nik Jhangiani, CFO 6 May 2026
Slide 2: Cautionary statements concerning forward-looking statements and non-GAAP financial measures
Cautionary statements concerning forward-looking statements and non-GAAP financial measures and non-GAAP financial measures The following presentation contains ‘forward-looking’ statements. These statements can be identified by the fact that they do not relate only to historical or current facts and
Slide 3: On track to deliver fiscal 26 guidance
On track to deliver fiscal 26 guidance • Overall organic net sales growth +0.3%, volume-driven • Strong growth in Europe, LAC and Africa, all up at least high-single- digit, offset by weakness in North America • Remain committed to increasing financial flexibility and strengthening our balance sheet
Slide 4: F26 Q3 key performance metrics
Volume and net sales Organic net sales Reported net sales F26 Q3 key +0.3% +2.3% $4,477m performance metrics Organic volume Price/mix +0.4% -0.1% For additional information on non-GAAP 4 Fiscal 26 Q3 Trading Statement measures please see financial/legal appendix
Slide 5: Regional organic net sales detail
Regional organic net sales detail NAM: remains biggest challenge, market conditions F26 Q3 organic net sales growth soft; and our offer needs to be more competitive by region Europe: benefitting from Easter timing and strong Europe momentum with Guinness +8.8% APAC: continued weakness in CWS more th
Slide 6: Reiterating fiscal 26 outlook
Reiterating fiscal 26 outlook Organic net sales: down 2% - 3% Organic operating profit growth: flat to up low-single-digit including c.$300m savings from the Accelerate programme and the impact of tariffs shared previously Free cash flow: $3 billion including exceptional cash costs related to the Ac
Slide 7: Diageo: Celebrating life, every day, everywhere
DIAGEO Celebrating life, every day, everywhere
Slide 8: Other financial guidance for fiscal 26
Other financial guidance for fiscal 26 Taxation: tax rate before exceptional items c.25% Effective interest rate: c.4.0% Capital expenditure: at the lower end of the range of $1.2 - 1.3 billion 8 Fiscal 26 Q3 Trading Statement
Slide 9: Historic growth across regions — organic
Historic growth across regions — organic F25 F26 Net sales Q1 Q2 H1 Q3 Q4 H2 FY Q1 Q2 H1 Q3 North America 2.3 (0.1) 1.0 6.9 (2.3) 2.0 1.5 (2.7) (10.4) (6.8) (9.4) Europe 1.0 0.7 0.8 (0.4) 0.0 (0.2) 0.3 3.4 2.2 2.7 8.8 Asia Pacific (10.9) 5.6 (2.5) 1.6 (9.8) (4.0) (3.2) (7.5) (14.0) (11.1) (0.8) Lati
Slide 10: Foreign exchange information and estimated impact
Foreign exchange information and estimated impact Translation FX rates Foreign exchange estimated impact Currency Spot at Spot at Average Average Using hedged rates already in place and for all 30 June 31 Mar actual 9m to actual 9m to other exposures, spot exchange rates at 30 April 2025 2025 31 Mar
Slide 11: Q3 organic net sales movement
Q3 organic net sales movement F26 Q3 net sales growth ($m) reported +2.3% Organic +0.3% -78 -6 4,477 -13 19 178 4,376 F25 Q3 Hyperinflation & Net Acquistions Exchange Volume Price/mix F26 Q3 Reclassification & Disposals 11 Fiscal 26 Q3 Trading Statement Absolute growth is reflected Q3 year-on-year.
Slide 12: Financial/legal appendix
Financial/legal appendix: Definitions and reconciliation of non-GAAP measures to GAAP measures Diageo’s strategic planning process is based on certain non-GAAP measures, including organic movements. These non-GAAP measures are chosen for planning and reporting, and some of them are used for incentiv