0924 GMT - Diageo is increasingly in control of the elements of its business it can manage amid a tough environment for spirits makers, Citi analyst Simon Hales writes in a research note. The U.K. distiller reported solid results for its fiscal third quarter through March and unveiled a restructuring program, Hales says. The top-line outlook, however, remains unclear, he adds. Drinks makers are grappling with a slowdown in alcohol consumption, as well as the potential hit from U.S. tariffs. "We continue to believe in the attractive long-term fundamentals of the spirits industry and yet to be accessed 'hidden value' in Guinness," the analyst says. Citi reiterates its buy rating on the stock. Shares trade 0.9% lower. (andrea.figueras@wsj.com)

(END) Dow Jones Newswires

May 23, 2025 05:24 ET (09:24 GMT)

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