---
schema_version: "secwatch.filing_event.v1"
accession: "0000014693-23-000022"
form_type: "8-K"
ticker: "BF-A"
cik: "0000014693"
company_name: "BROWN FORMAN CORP"
filed_at: "2023-03-08T23:59:59+00:00"
generated_at: "2026-06-18T08:22:37.885233+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000014693-23-000022
- form_type: 8-K
- ticker: BF-A
- cik: 0000014693
- company_name: BROWN FORMAN CORP
- filed_at: 2023-03-08T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/14693/000001469323000022/0000014693-23-000022-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/14693/000001469323000022/bfb-20230308.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000014693-23-000022
- JSON: https://secwatch.observer/filing/0000014693-23-000022.json
- Plain text: https://secwatch.observer/filing/0000014693-23-000022.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/14693/000001469323000022/0000014693-23-000022-index.htm
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/14693/000001469323000022/0000014693-23-000022-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.