Pernod Ricard fears the U.S. slump will last for years

The downturn in the spirits market in the United States and China hit Pernod Ricard hard. Revenue fell by 14.2% in the last fiscal year, and net income dropped by as much as 26%. The French owner of Absolut, Jameson, and Martell expects that the weakness in the U.S. market, in particular, will continue to slow growth through 2029.

Americans are drinking less

Pernod Ricard closed the 2025–2026 fiscal year with revenue of 9.4 billion euros, down 14.2% from the previous year. Exchange rates and brand divestitures exacerbated the decline; on an organic basis, the drop was limited to 3.9%.