secwatch.observer — SEC 8-K summary
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Issuer:     BROWN FORMAN CORP (BF-A)
CIK:        0000014693
Form:       8-K
Filed at:   2024-03-06T23:59:59+00:00
Accession:  0000014693-24-000012
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Brown-Forman Q3 EPS +189% to $0.60, cuts FY organic sales outlook to flat
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- Nine-month diluted EPS $1.58 (+32%), reported net sales $3.2B (+1%) but organic flat.
- Jack Daniel's Tennessee Whiskey organic net sales -5%; Jack Daniel's Tennessee Apple +45% organic.
- Gross margin expanded 250 bps to 60.9%; $90M pre-tax gain from Finlandia sale completed Nov 1.
- FY2024 guidance: organic net sales flat, organic op income growth 0-2%, capex $230-240M.
- Completed $400M share repurchase program; quarterly dividend $0.2178 payable Apr 1.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/14693/000001469324000012/0000014693-24-000012-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/14693/000001469324000012/bfb-20240306.htm
  HTML page:      https://secwatch.observer/filing/0000014693-24-000012

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer