Pernod Ricard reported a 0.9% sales decline in the first quarter of fiscal 2027. That was smaller than the 1.7% drop forecast by consensus.
Sales in India grew 19%, supported by strong demand. Sales in the Asia-Rest of the World region rose 9%.
Sales fell approximately 10% in the U.S. and 25% in China, as both markets continued to adjust inventories.
Pernod Ricard expressed cautious optimism about China, where underlying depletions returned to growth ahead of the Mid-Autumn Festival. The company reaffirmed its full-year forecast for broadly stable organic net sales.
Shares rose around 3% after the earnings release, as investors responded positively to the resilient sales performance despite challenges in key markets.