Brown-Forman FY2023 net sales +8% to $4.2B; EPS -7% to $1.63; guides FY2024 organic sales +5-7%

BROWN FORMAN CORP

2023-FY EPS reported $1.63 revenue$4,228,000,000

Q4 net sales $1.0B (+5% reported, +4% organic); operating income $298M (+21%); diluted EPS $0.43 (+36%).
Full-year net sales $4.2B (+8% reported, +10% organic); operating income $1.1B (-6% reported, +8% organic).
Gross margin contracted 180 bps to 59.0%; recognized $96M non-cash impairment on Finlandia brand name.
FY2024 outlook: organic net sales growth 5-7%, organic operating income growth 6-8%, capex $250-270M, effective tax rate 21-23%.
Returned $378M to stockholders via dividends; paid regular dividends for 79 consecutive years.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

BROWN FORMAN CORP reported financial results for fourth fiscal quarter and fiscal year ended April 30, 2023.

Period: fourth fiscal quarter and fiscal year ended April 30, 2023
Result: reported results

Exact text from the filing

On June 7, 2023, Brown-Forman Corporation issued a press release reporting its operating results for the fourth fiscal quarter and fiscal year ended April 30, 2023.

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Source: SEC EDGAR

accession 0000014693-23-000065

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