earnings
confidence high
sentiment positive
materiality 0.75
Brown-Forman raises FY outlook to high-single digit underlying net sales growth; declares special $1 dividend
BROWN FORMAN CORP
2022-Q2 EPS reported
$0.89
revenue$1,900,000,000
- Q2 net sales $994M (+1% reported, +7% underlying); EPS $0.49 (-2%).
- First-half net sales $1.9B (+9% reported, +12% underlying); EPS $0.89 (-24%) on prior-year brand sale gain.
- Full-year underlying net sales outlook raised from mid- to high-single digit growth; underlying OP income expected high-single digit growth.
- Quarterly dividend raised 5% to $0.1885/share; special dividend of $1.00/share (~$480M) declared, payable Dec 29.
- Supply chain disruptions persist but expected to lessen in H2; gross margin flat to slightly down for FY.