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Brown-Forman Corporation (BF) is a leading American producer and distributor of globally recognized alcoholic beverages. The company boasts a rich heritage dating back to 1870 when it was founded by George Garvin Brown. Headquartered in Louisville, Kentucky, Brown-Forman is celebrated for its diverse portfolio of premium brands, including Jack Daniel's, Woodford Reserve, Old Forester, and Finlandia Vodka.
Brown-Forman operates through three main segments: Whiskey, Tequila, and Wine. Each segment is meticulously managed to ensure the highest quality products reach their consumers. The Whiskey segment, anchored by Jack Daniel's, is the flagship of the company and accounts for a significant portion of the revenue.
The company has a robust global presence, distributing its products in over 170 countries. This expansive reach is supported by strategic partnerships and collaborations with local distributors and retailers, ensuring that Brown-Forman's brands are accessible to a wide audience.
In recent years, Brown-Forman has achieved notable milestones, including the expansion of its Jack Daniel's Tennessee Whiskey's brand into new markets and launching innovative products, such as flavored variations and ready-to-drink cocktails. The company continues to invest in sustainable practices and community engagement, reflecting its commitment to long-term value creation.
Financially, Brown-Forman remains strong, with consistent revenue growth and a solid balance sheet. The company leverages its brand strength and operational efficiency to deliver steady dividends to shareholders, making it a reliable choice for investors seeking stability in the beverage sector.
Brown-Forman's current projects focus on expanding its digital footprint and enhancing consumer engagement through targeted marketing campaigns. The company also prioritizes innovation in packaging and product offerings to meet evolving consumer preferences and regulatory requirements.
Overall, Brown-Forman Corporation stands out as a resilient and forward-thinking leader in the alcoholic beverage industry, committed to quality, sustainability, and shareholder value.
Brown-Forman (NYSE:BFA,BFB) has announced major strategic restructuring initiatives to drive future growth. The company is implementing three key changes: restructuring its executive leadership team, reducing its global workforce by approximately 12% of 5,400 employees, and closing the Louisville-based Brown-Forman Cooperage by April 25, 2025.
The executive reorganization includes new appointments: Jeremy Shepherd as Chief Marketing Officer, Michael Masick as President Americas, Yiannis Pafilis as President Europe, Africa, Asia Pacific, and Chris Graven as Chief Strategy Officer. The cooperage closure will impact about 210 employees, with the company planning to source barrels externally.
These initiatives are expected to generate $70-80 million in annual cost savings, with some portion being reinvested for growth. The company will receive over $30 million from cooperage asset sales but expects to incur $60-70 million in severance and related costs.
Brown-Forman (NYSE: BFA, BFB) reported its fiscal 2025 second quarter and first half results. For Q2, net sales decreased 1% to $1.1 billion (+3% organic), operating income increased 1% to $341 million (+5% organic), and EPS rose 9% to $0.55. For the first half, net sales decreased 5% to $2.0 billion (flat organic), operating income fell 7% to $622 million (-3% organic), and EPS decreased 3% to $0.96. The declines were primarily due to the divestitures of Finlandia and Sonoma-Cutrer. Gross profit fell 8% (-4% organic) and gross margin contracted 240 basis points. Operating expenses declined 10% (-4% organic). The Board approved a 4% increase in the quarterly dividend to $0.2265 per share. Despite the challenging environment, the company reaffirmed its full-year growth outlook, expecting organic net sales and operating income growth in the 2-4% range.
Brown-Forman (NYSE:BFA, BFB) announced that Campbell P. Brown will step down as Chair of the Board of Directors in July, while continuing to serve as a Director. Marshall B. Farrer, a fifth-generation descendant of the company's founder, will assume the role of Chair, subject to reelection. During Brown's tenure, the company acquired Gin Mare and Diplomático Rum, and navigated through challenges including the pandemic, supply chain disruptions, and tariffs on American whiskey. Farrer, who joined the Board in 2016 and currently serves as Executive Vice President and Chief Strategic Growth Officer, will become the eleventh Brown family member and third fifth-generation family member to serve as Chair.
Brown-Forman (NYSE: BFA, BFB) announced a 4% increase in its quarterly cash dividend from $0.2178 to $0.2265 per share on Class A and Class B Common Stock. The annual cash dividend will increase from $0.8712 to $0.9060 per share, payable on January 2, 2025, to stockholders of record on December 6, 2024. This marks the company's 41st consecutive year of dividend increases and 81 years of regular quarterly cash dividends. The company is a member of the S&P 500 Dividend Aristocrats index.
Brown-Forman (NYSE: BFA, BFB) has announced it will release its second quarter and first half fiscal year 2025 financial results on December 5, 2024, at 8:00 a.m. (EST). A conference call to discuss the results will follow at 10:00 a.m. (EST). The company will provide a live audio broadcast via their website, with a digital recording available for at least 30 days afterward. Brown-Forman manages a portfolio of premium spirits brands including Jack Daniel's, Woodford Reserve, and Herradura, employing approximately 5,700 people worldwide and distributing products in over 170 countries.
Brown-Forman (NYSE: BFA, BFB) announced that CEO Lawson Whiting will participate in TD Cowen's 2nd Annual Sip, Snack & Scrub Summit on September 17, 2024. The virtual 'fireside chat' will begin at 11:00 a.m. (EDT) and will be available as a webcast on the company's website. A replay will be accessible for at least 30 days following the event.
Brown-Forman, with a 150-year history in building exceptional spirits brands, boasts a portfolio including Jack Daniel's, Woodford Reserve, Herradura, and Diplomático Rum. The company employs approximately 5,700 people worldwide and distributes its premium beverages in more than 170 countries.
Brown-Forman reported its Q1 fiscal 2025 results, with net sales decreasing 8% to $1.0 billion and operating income down 14% to $281 million. Despite challenges, the company reaffirmed its full-year fiscal 2025 guidance, expecting organic net sales and operating income growth of 2% to 4%. Key highlights include:
- Diluted earnings per share decreased 14% to $0.41
- Gross profit declined 13% with a 330 basis point margin reduction
- Operating expenses decreased by 12%
- Whiskey net sales decreased 5%, Tequila portfolio declined 23%
- U.S. net sales declined 5%, Developed International markets down 9%
- The company declared a quarterly cash dividend of $0.2178 per share
Brown-Forman remains confident in its strategy to navigate the challenging consumer and cost environment.
Brown-Forman (NYSE: BFA, BFB) announced that President and CEO Lawson Whiting and EVP and CFO Leanne Cunningham will participate in a "fireside chat" at the Barclays Global Consumer Staples Conference in Boston on September 4, 2024. The event starts at 12:45 p.m. (ET) and will be available as a webcast on the company's website, with a replay accessible for at least 30 days.
Brown-Forman, with a 150-year history in premium spirits, boasts a portfolio including Jack Daniel's, Woodford Reserve, and Herradura. The company employs approximately 5,700 people worldwide and distributes its products in over 170 countries.
BetterInvesting Magazine has announced Cognizant Technology Solutions Corp. (NASDAQ: CTSH) as its 'Stock to Study' and Brown-Forman Corp. (NYSE: BFB) as its 'Undervalued Stock' in the November 2024 issue. The announcement, made by the Editorial Advisory and Securities Review Committee, is intended for investors' informational and educational use.
The magazine emphasizes the importance of long-term investing, quoting NAIC founder George A. Nicholson Jr. CFA on the profitability of investing in companies with growing earnings over a five-year period. Investors are encouraged to use BetterInvesting's online tools to analyze these stocks, with non-members having access to a trial version.
The committee stresses that these selections are not endorsements or purchase recommendations, urging investors to conduct their own research using tools like the Stock Selection Guide before making investment decisions.
Brown-Forman (NYSE: BFA, BFB) has announced the release of its first quarter fiscal year 2025 financial results on August 29, 2024, at 8:00 a.m. (EDT). This will be followed by a conference call at 10:00 a.m. (EDT) to discuss the results. Investors and interested parties can access a live audio broadcast of the call via the company's website, brown-forman.com, under the 'Investors/Events & Presentations' section. A digital audio recording will be available on the website approximately two hours after the call concludes and will remain accessible for at least 30 days. Participants can also register in advance to join the conference call.
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