Brown-Forman (BF-B) Misses Q1 EPS by 4c, Offers Guidance

Brown-Forman (NYSE: BF-B) reported Q1 EPS of $0.41, $0.04 worse than the analyst estimate of $0.45. Revenue for the quarter came in at $951 million, versus $1.04 billion reported last year.

Fiscal 2025 Outlook

We anticipate a return to growth for organic net sales and organic operating income in fiscal 2025 driven by gains in international markets and the benefit of normalizing inventory trends. This outlook is tempered by our belief that global macroeconomic and geopolitical uncertainties will continue to create a challenging operating environment. Accordingly, we reiterate the following expectation for fiscal 2025:

• Organic net sales growth in the 2% to 4% range.
• Organic operating income growth in the 2% to 4% range.
• Our effective tax rate to be in the range of approximately 21% to 23%.
• Capital expenditures planned to be in the range of $195 to $205 million.

For earnings history and earnings-related data on Brown-Forman (BF-B) click here.

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