secwatch.observer — SEC 8-K summary
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Issuer:     BROWN FORMAN CORP (BF-A)
CIK:        0000014693
Form:       8-K
Filed at:   2023-08-30T23:59:59+00:00
Accession:  0000014693-23-000148
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/14693/000001469323000148/0000014693-23-000148-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/14693/000001469323000148/bfb-20230830.htm
  HTML page:      https://secwatch.observer/filing/0000014693-23-000148

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