Brown-Forman (BF-A) Misses Q1 EPS by 3c

Brown-Forman (NYSE: BF-A) (NYSE: BF-B) reported Q1 EPS of $0.31, $0.03 worse than the analyst estimate of $0.34. Revenue for the quarter came in at $894 million versus the consensus estimate of $968.4 million.

Fiscal 2026 Outlook

We anticipate the operating environment for fiscal 2026 will be challenging, with low visibility due to macroeconomic and geopolitical volatility as we face headwinds from consumer uncertainty, the potential impact from currently unknown tariffs, and lower non-branded sales of used barrels. We remain focused on building our business for the long term and navigating the current environment at pace with strategic initiatives in fiscal 2026 that we believe will unlock future growth led by the significant evolution of our U.S. distribution, the restructuring initiative, and meaningful new product innovation. Considering these factors, we expect the following in fiscal 2026:

• Organic net sales decline in the low-single digit range.
• Organic operating income decline in the low-single digit range.
• Our effective tax rate to be in the range of approximately 21% to 23%.
• Capital expenditures planned to be in the range of $125 to $135 million.

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

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