Brown-Forman Q1 net sales up 3%, operating income down 4%, EPS $0.48, reaffirms FY guidance

BROWN FORMAN CORP

2024-Q1 EPS reported $0.48 revenue$1,038,000,000

Reported net sales $1.0B (+3% reported, +2% organic); operating income $327M (-4% reported, -6% organic).
Diluted EPS decreased 7% to $0.48; gross margin expanded 90 bps to 62.7%.
US net sales declined 8% due to estimated distributor inventory decrease; emerging markets grew 27%.
Reaffirmed FY2024 guidance: organic net sales growth 5-7%, organic operating income growth 6-8%.
Quarterly dividend of $0.2055 declared, payable Oct 2, 2023; 39th consecutive year of dividend increase.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BROWN FORMAN CORP reported first quarter of fiscal 2024 ended July 31, 2023 results: revenue $1.0 billion, EPS $0.48. Guidance reaffirmed.

Period: first quarter of fiscal 2024 ended July 31, 2023
Revenue: $1.0 billion
EPS: $0.48
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Brown-Forman Corporation (NYSE: BFA, BFB) reported financial results for its first quarter of fiscal 2024 ended July 31, 2023, with reported net sales increasing 3% 1 to $1.0 billion (+2% on an organic basis 2 ). In the quarter, reported operating income decreased 4% to $327 million (-6% on an organic basis) and diluted earnings per share decreased 7% to $0.48.

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Source: SEC EDGAR

accession 0000014693-23-000148

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