secwatch.observer — SEC 8-K summary
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Issuer:     BROWN FORMAN CORP (BF-A)
CIK:        0000014693
Form:       8-K
Filed at:   2024-12-05T23:59:59+00:00
Accession:  0000014693-24-000170
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Brown-Forman reports H1 FY25 net sales -5%; reaffirms 2-4% organic growth outlook
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- First half reported net sales $2.0B (-5%); flat organic; operating income -7% (-3% organic); diluted EPS $0.96 (-3%).
- Reaffirms FY25 organic net sales and operating income growth of 2-4%; effective tax rate 21-23%.
- Board approved 4% dividend increase to $0.2265/share, payable Jan 2, 2025; 41st consecutive annual increase.
- US net sales -7% (-3% organic) driven by Jack Daniel’s and Korbel declines; Woodford Reserve and Old Forester grew.
- Gross margin contracted 240 bps to 59.2% due to input cost timing and high inventory.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/14693/000001469324000170/0000014693-24-000170-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/14693/000001469324000170/bfb-20241205.htm
  HTML page:      https://secwatch.observer/filing/0000014693-24-000170

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