Brown-Forman Q3 net sales +4% to $1.1B; EPS -61% on impairment and pension charge; updates FY23 guidance

BROWN FORMAN CORP

2023-Q3 EPS reported $1.20 revenue$3,182,000,000

Q3 net sales $1.1B (+4% reported, +5% organic); operating income $173M (-50% reported, -11% organic); diluted EPS $0.21 (-61%).
Nine-month net sales $3.2B (+8% reported, +12% organic); operating income $829M (-13% reported, +9% organic); EPS $1.20 (-16%).
Non-cash impairment charge of $96M for Finlandia brand name; $27M pension settlement charge recognized in Q3.
Dividend declared $0.2055/share, payable April 3, 2023 to holders of record March 8, 2023; 39th consecutive annual increase.
Updated FY23 guidance: organic net sales growth 8-10%, high-single-digit organic operating income growth, capEx $190-210M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BROWN FORMAN CORP reported nine months ended January 31, 2023 results: revenue $3.2 billion, EPS $1.20.

Period: nine months ended January 31, 2023
Revenue: $3.2 billion
EPS: $1.20
Result: reported results

Exact text from the filing

For the first nine months of the fiscal year, reported net sales increased 8% to $3.2 billion (+12% on an organic basis) compared to the same prior-year period.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BROWN FORMAN CORP reported third quarter ended January 31, 2023 results: revenue $1.1 billion, EPS $0.21.

Period: third quarter ended January 31, 2023
Revenue: $1.1 billion
EPS: $0.21
Result: reported results

Exact text from the filing

For the third quarter, reported net sales 1 increased 4% to $1.1 billion (+5% on an organic basis 2 ) compared to the same prior-year period.

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Source: SEC EDGAR

accession 0000014693-23-000022

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