Diageo Beer Carries The Co. In the U.S. For H1 (But Not Enough)

Dear Client: Diageo dropped its fiscal first half results yesterday (the six months ended Dec. 31, 2025), and the story in the U.S. remains a tale of two businesses: Diageo Beer Co. USA keeps climbing, while U.S. spirits keep sliding. Indeed, while net sales of Diageo’s U.S. spirits sank 9.3% in the half, DBC USA delivered nearly the inverse result, with net sales up 7.3%.  GUINNESS, SMIRNOFF DRIVE DBC USA SALES TO 7.3% GAIN IN BACK HALF OF ’25. Diageo