---
schema_version: "secwatch.filing_event.v1"
accession: "0000014693-23-000148"
form_type: "8-K"
ticker: "BF-A"
cik: "0000014693"
company_name: "BROWN FORMAN CORP"
filed_at: "2023-08-30T23:59:59+00:00"
generated_at: "2026-06-11T01:55:03.082241+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000014693-23-000148
- form_type: 8-K
- ticker: BF-A
- cik: 0000014693
- company_name: BROWN FORMAN CORP
- filed_at: 2023-08-30T23:59:59+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/14693/000001469323000148/0000014693-23-000148-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/14693/000001469323000148/bfb-20230830.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000014693-23-000148
- JSON: https://secwatch.observer/filing/0000014693-23-000148.json
- Plain text: https://secwatch.observer/filing/0000014693-23-000148.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/14693/000001469323000148/0000014693-23-000148-index.htm

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