US EditionAdult Beverage Distributor Diageo Anticipates $150M Impact From Tariffs
- Diageo, the world's largest spirits maker, reported on May 19, 2025, that U.S. tariffs will reduce its profits by $150 million annually.
- The company revised down its previous estimate from $200 million as the 10% tariffs on UK and European imports took effect while tariff threats on Mexico and Canada receded.
- Diageo, which makes Johnnie Walker whisky, Guinness stout, and Smirnoff vodka, plans to save $500 million over three years through its Accelerate cost-saving program to offset tariff impacts.
- CEO Debra Crew stated that despite challenges from the macroeconomic environment and tariff expenses, the company is prepared to maintain steady, long-term growth while enhancing value for shareholders.
- Diageo's strategy includes mitigating tariff effects via price increases, cost controls, and supply chain management, aiming to maintain about $3 billion in annual free cash flow from fiscal 2026.
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Guinness maker Diageo cuts costs, eyes US tariff hit
Diageo, the maker of Guinness stout and Smirnoff vodka, said Monday it would cut costs to reduce debt, as the British group anticipates a hit from US tariffs of $150 million.
·Pennsylvania, United States
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