Shares of Diageo PLC (DEO) surged 8.56% in pre-market trading on Thursday, following the release of its fiscal 2026 financial results. The company reported preliminary adjusted earnings of $1.65 per basic share, up from $1.64 a year earlier, signaling modest profit growth despite a decline in sales.

For the full year ended June 30, sales came in at $19.64 billion, slightly below the $20.25 billion recorded in the prior year but closely in line with the FactSet consensus estimate of $19.65 billion. The in-line revenue performance and improved adjusted earnings per share appeared to reassure investors, driving the stock higher in the pre-market session.