Diageo’s Beer Sales Growth to Exceed Spirits Sales Growth in 2024

Leading alcoholic beverage company Diageo (LSE: DGE) is projected to see organic beer sales in the U.S. improve by 4.01% in 2024, offset by a -0.84% decline in organic sales growth of spirits & wines. The UK-based beer and spirits company is expected to see a slump in sales of expensive spirits in 2024. According to company reports, however, demand for its beer brand Guinness remains high, particularly in Europe and Africa.

The company is expected to face a tough year in 2024, with organic sales growth projected to decline across its various markets, particularly Latin America. North America, which contributes approximately 39% of the company’s total revenue, is expected to see an organic sales growth decline of -0.97% in 2024, while Latin America, accounting for around 10% of the company’s total revenue, is estimated to see organic sales growth decline by -20.51%. According to Visible Alpha consensus, Diageo’s 2024 net revenue is projected to decline by -1% YoY to $20.4 billion, driven primarily by a -5% decline in overall sales volume.