Pernod Ricard confirms financial targets despite weak first quarter

Pernod Ricard has confirmed its financial outlook for the 2026-2027 fiscal year following a challenging first quarter. The spirits group reported first-quarter revenue of €2.23 billion, representing a 6.3% decrease in reported terms and a 0.9% decline on an organic basis. This result fell slightly below analyst expectations of €2.25 billion.

The decline was primarily driven by market weakness and stock adjustments in the United States and China, where sales dropped by 10% and 25% respectively. To counter these losses, the company expects positive momentum in other regions, specifically India.

Despite the quarterly dip, the company maintains its guidance for organic revenue growth to remain near the lower end of its 3% to 6% target range. Pernod Ricard also intends to preserve its organic operating margin and is implementing digital transformation strategies to improve operational efficiency.