Bev/Al Stocks Down, But It's Earnings, Fundamentals, to Blame -- Not Trump's War
Of the 10 largest U.S. alcoholic beverage stocks, only MGP Ingredient rose Monday. The rest fell, largely, analysts said, because of company and industry-specific factors, especially Diageo's report last Wednesday in which the company reported net sales fell 4% to $10.46 billion. Profit, meanwhile, rose 1.
Of the 10 largest U.S. alcoholic beverage stocks, only MGP Ingredient rose Monday. The rest fell, largely, analysts said, because of company and industry-specific factors, especially Diageo's report last Wednesday in which the company reported net sales fell 4% to $10.46 billion. Profit, meanwhile, rose 1.7% to $2,110,000.
To be sure, Diageo had reported growth in Europe, Latin America and the Caribbean. But that was offset by weaknew in North America and China. The company said it will continue to focus on cash flow and increased commitment to reduce debt and increase financial flexibility,
Logically, the U.S. attack on Iran, ordered by President Trump on Saturday morning, should have little or no impact on alcohol beverage stocks since almost no one in any of the middle eastern countries drink beer, wine or spirits. And that appears to be the case.