secwatch.observer — SEC 8-K summary
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Issuer:     BROWN FORMAN CORP (BF-A)
CIK:        0000014693
Form:       8-K
Filed at:   2023-03-08T23:59:59+00:00
Accession:  0000014693-23-000022
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/14693/000001469323000022/0000014693-23-000022-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/14693/000001469323000022/bfb-20230308.htm
  HTML page:      https://secwatch.observer/filing/0000014693-23-000022

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