Diageo plc (NYSE:DEO) is one of the stocks Jim Cramer Recently Discussed. Cramer highlighted the company’s “horrible” results, as he said:
Last night, Diageo reported. The results were so horrible that they had to cut the dividend in half. I always thought the dividend was sacrosanct. The stock of this king of all alcohol fell 15%, one session. As is so often the case, when you get this sort of decline, management… they’re hopeful they can stem the decline. We want that optimism, but they always seem to underestimate the changes in the marketplace. They did list some of the causes of the decline: the consumers feeling the pinch, younger people are drinking less, the GLP-1 drugs eliminate your craving for alcohol, and there’s legal competition from cannabis in half the country. But then these guys dismiss those problems as having a kind of a relative, maybe even transient impact. That’s wrong. They admit that the economic pressure has meaningfully impacted disposable income despite the sanguine tone of our president last night…
Diageo plc (NYSE:DEO) produces and sells a wide range of alcoholic beverages, including beer, whisky, vodka, gin, and rum.
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