|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||129.15 - 134.85|
|52 Week Range||112.25 - 179.50|
|Beta (5Y Monthly)||0.52|
|PE Ratio (TTM)||23.55|
|Earnings Date||Feb 13, 2020|
|Forward Dividend & Yield||3.12 (2.31%)|
|Ex-Dividend Date||Nov 25, 2019|
|1y Target Est||140.97|
The world’s biggest distillers are racing to make hand gel, which has become increasingly rare in many countries due to a massive surge in demand.
Chemicals giant Ineos will build a hand sanitizer factory in the U.K. within 10 days, producing one million bottles a month to help fight a European shortage.
The world's largest brewer AB InBev has scrapped its 2020 outlook as the scale of the coronavirus crisis has increased. The Belgium-based maker of Budweiser, Stella Artois and Corona had forecast at the end of February that core profit would fall by 10% in the first quarter. At the time, the coronavirus crisis was largely confined to China. But as the scale of COVID-19 has increased, so too have the restrictions imposed on many customers, including social distancing measures in scores of countries and the closure of bars and restaurants. It's not the only drinks group under pressure. French spirits maker Pernod Ricard also warned on Tuesday of a hit of around 20% to its current operating profit. Pernod is the biggest international spirits maker in China, and the world's second-biggest behind Diageo. It had already cut its full-year outlook, but says it is in a solid financial position to be able to cope with the impact of the outbreak - with 3.7 billion dollars available in credit lines.
European stocks rose on Tuesday amid tentative signs that the coronavirus spread is slowing in Italy, one of the worst-hit countries, as negotiations continued on a U.S. stimulus package.
(Bloomberg) -- Anheuser-Busch InBev NV withdrew its earnings outlook for 2020 and Pernod Ricard SA forecast a 20% drop in profit as the coronavirus pandemic eliminates most of the revenue that drinks makers get from bars and restaurants.AB InBev abandoned its target that earnings growth could reach 5%, the world’s largest brewer said Tuesday. Pernod now expects the steepest earnings decline in years.Businesses big and small have been hit by the outbreak, which has upended lives and social norms across the globe. Many countries have ordered bars and restaurants to shut to try to slow the spread of Covid-19 as the disease has reached almost every country. Companies from plane maker Airbus SE to retailer Macy’s Inc. have withdrawn earnings forecasts and suspended dividends.Pernod said it gets a quarter of its revenue from bars and restaurants, and it’s forecasting that business will be absent from mid-March through June. The company expects a slow recovery in China starting next month, and sales from duty-free and shops in travel locations will drop 80% in the five months through June.AB InBev also pushed back the closing date for the $11 billion sale of its Australian operation Carlton & United Breweries to Japan’s Asahi Group Holdings Ltd. because it remains under review by Australian competition regulators. The deal is now expected to close in the second quarter, the beermaker said.Shares of AB InBev rose as much as 4.1%, having lost almost half their value this year. Pernod, which has dropped about 20% since December, gained 2.9%.The bleaker outlooks show that the industry isn’t banking on an uplift from any alcohol hoarding.Last month, AB InBev predicted its worst quarter in a decade as it factored in the impact from China’s lockdown at the beginning of the year, and Chief Executive Officer Carlos Brito’s annual bonus was cut. Now, as China slowly recovers, the virus is wreaking havoc on the rest of the world. The U.K. ordered pubs to shut last week, and Hong Kong on Monday banned restaurants and bars from serving alcohol.The brewer is starting to produce hand sanitizer and disinfectants as part of virus relief efforts.(Updates with shares in sixth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Regulatory News: Trading Statement - Paris, 24 March 2020
The U.S.-listed shares of Pernod Ricard S.A. rose 2% in morning trading, to buck the sharp selloff in the broader stock market, after the France-based spirits and wine company said its U.S. subsidiary will "produce and donate" hand sanitizers to help fight the spread of the COVID-19 virus. The hand sanitizers will be produced at the U.S. manufacturing sites, including those in Fort Smith, Arkansas, Lewisburg, West Virgina, Louisville, Kentucky and Fort Worth, Texas. The company said Assistant to the President for Trade and Manufacturing Peter Navarro helped it navigate regulatory hurdles and obtain necessary approvals to produce the hand sanitizers in the U.S. Pernod Ricard said it will work with the U.S. government on plans for distributing the hand sanitizers. The stock has lost 25% over the past month, while the S&P 500 has declined 30%.
Today, premium wine & spirits leader Pernod Ricard USA answered the Trump Administration's call to action announcing that it will produce and donate hand sanitizer to help in the national fight against the COVID-19 virus.
Spirits makers from France’s Pernod Ricard to small craft gin distilleries in the UK are joining efforts to boost production of hand sanitisers to help fight the spread of the coronavirus. The move comes as the UK government prepares regulatory changes to aid a switch in production, and as healthcare systems, businesses and customers in Europe struggle to secure to procure sanitisers, as well as other medical supplies, as infection rates rise. , a vital ingredient for hand gels and alcohol wipes, is also in short supply in Europe, with prices for the chemical jumping sharply.
International companies set out contingency plans and warn about the impact of the novel coronavirus as one of the world’s leading autoshows is canceled
Pernod Ricard, the maker of Jameson whiskey and Absolut vodka, cut its annual profit growth outlook for 2019-2020 on Thursday, as it said China’s coronavirus epidemic was likely to have a “severe” impact on its third-quarter performance. The French spirits maker, which generates 10% of its global sales in China, said it couldn't predict the “duration and extent of the impact,” but stressed it remained confident on overall strategy. “In our view Pernod Ricard deserves credit for attempting to quantify the impact, which few other companies we follow have done,” said James Edwardes Jones, analyst at RBC Capital Markets.
The rally in U.S. equities took a pause and the strong dollar got stronger on Thursday, rising to a three-year high against a basket of trading partner currencies, after a steep slide in the Japanese yen called into question its safe-haven status. Gold prices hit their highest in seven years as investors sought safe-haven assets after a rise in the number of new coronavirus cases in South Korea. Oil prices rose, supported by China's efforts to bolster its virus-weakened economy.
French spirits maker Pernod Ricard remains confident over its medium term-prospects in China despite the coronavirus epidemic which will hit its full year sales, its chief executive told Reuters on Thursday. Alexandre Ricard also said in a phone interview that his assumption was that consumer demand for spirits in China would return to normal from June. Pernod Ricard has a medium-term ambition to grow sales at a high single digit to low double digit rate in China.
French spirits group Pernod Ricard cut its full-year profit growth outlook for 2019-2020 on Thursday, saying the coronavirus epidemic in China was likely to have a severe impact on its third-quarter performance. The company, which makes 10% of its sales in China, said it could not currently predict the duration and impact of the crisis, but added it nevertheless remained confident on its overall corporate strategy. Pernod, the world's second-biggest spirits group behind Diageo, is now targeting an organic rise of between 2% and 4% in profit from recurring operations for the year to June 30, 2019.
Pernod Ricard SA on Thursday slashed its full-year guidance, saying that it expects the coronavirus outbreak to have a severe impact on its third fiscal quarter, even as it reported higher net profit and sales for the first half of its fiscal year.
Twelve leading beer, wine and spirits companies have pledged to put clear age-restriction labels on their drinks and set tighter controls on access to their online content in a bid to reduce underage drinking. The International Alliance for Responsible Drinking (IARD), which includes Anheuser-Busch InBev, Diageo and Pernod Ricard, say age-restriction symbols or wording would be in place in all markets by 2024. The labels would also extend to alcohol-free versions of established brands.
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Pernod Ricard is looking to expand its tequila range, possibly through acquisition, the French drinks group's CEO for Europe, the Middle East, Africa and Latin America said. Gilles Bogaert told investors during a presentation on Thursday that tequila was a key spirits category for the group, which has been targeted by activist investor Elliott. Pernod Ricard's portfolio of tequila, which is made from the blue agave plant, ranges from ultra-premium Avion, premium Altos, standard Plus Olmeca to a majority stake in Mexico's Del Maguey Single Village Mezcal.
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