secwatch.observer — SEC 8-K summary
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Issuer:     BROWN FORMAN CORP (BF-A)
CIK:        0000014693
Form:       8-K
Filed at:   2023-06-07T23:59:59+00:00
Accession:  0000014693-23-000065
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/14693/000001469323000065/0000014693-23-000065-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/14693/000001469323000065/bfb-20230607.htm
  HTML page:      https://secwatch.observer/filing/0000014693-23-000065

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