Why Diageo (DEO) Shares Are Falling Today - Diageo (NYSE:DEO)

Diageo Plc DEO reported half-year ended December 31, 2022 sales of £9.4 billion, an 18.4% increase year-on-year.
The growth reflected strong organic net sales growth and favorable impacts from foreign exchange, mainly due to the strengthening of the U.S. dollar.
Organic net sales grew 9.4%, with growth in all regions. However, sales in its important market, North America, increased 3% compared to the double-digit growth in the prior period.
Operating profit grew 15.2% to £3.2 billion and the reported operating margin declined by 92bps. Basic EPS increased 15% Y/Y to 100.9 pence.
Net cash flow from operating activities declined to £1.2 billion.
"While we expect the operating environment to continue to be challenging, we are confident in the resilience of our business and our ability to navigate continued cost inflation and global geopolitical and macroeconomic uncertainty," said the company.
Price Action: DEO shares are trading lower by 5.77% in premarket at $173.73 on the last check Thursday.

Diageo Shares Drop As North America Growth Slows