Diageo (DEO) said Tuesday it's removing its medium-term guidance due to "macroeconomic and geopolitical uncertainty in many of our key markets impacting the pace of recovery."
The confirmation of the implementation of tariffs in the US "adds further complexity in our ability to provide updated forward guidance given this is a new and dynamic situation," said Diageo Chief Executive Debra Crew in a filing with the London Stock Exchange.
"While the pace of recovery has been slower in several key markets, we remain confident of [favorable] long-term industry fundamentals and more importantly in our ability to outperform the market," Crew said.
Diageo shares were down 0.8% in recent premarket activity.
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