Welcome to our dedicated page for Brown-Forman Corporation Class B news (Ticker: BF.B), a resource for investors and traders seeking the latest updates and insights on Brown-Forman Corporation Class B stock.
Brown-Forman Corporation Class B (symbol: BF.B) is a leading independent, publicly-traded company that specializes in the production and marketing of some of the most renowned wines and spirits brands worldwide. With more than 30 unique brands in its portfolio, including nine that exceed one million cases annually, Brown-Forman stands as one of the largest American-owned spirits and wine companies and ranks among the top 10 largest global spirits producers.
Headquartered in Louisville, KY, Brown-Forman boasts a diverse workforce of approximately 4,000 employees from 45 different nationalities. The company operates offices and production facilities across the globe, enabling it to sell its products in more than 135 countries. The cornerstone of Brown-Forman's business strategy is the individual brand strength and equity, built through meaningful differentiation and the dedication of passionate employees. This approach has proven vital for sustained growth and profitability.
The company’s flagship brands include the world-famous Jack Daniel's Tennessee Whiskey, alongside other notable names such as Woodford Reserve and Old Forester bourbons. Additionally, Brown-Forman manufactures and distributes a wide range of beverages, including tequila, vodka, rum, gin, and premium wines. A significant portion of its revenue—close to 70%—comes from the whiskey category.
Brown-Forman generates approximately 45% of its sales from the U.S. market, with the remaining revenues coming primarily from Europe, Australia, and Latin America. Despite being a publicly-traded entity, the Brown family retains over 50% of the economic interests and 67% of the voting power, ensuring long-term family stewardship and stability.
In addition to its financial success, Brown-Forman is committed to responsible business practices. The company understands that success in today's market goes beyond financial metrics, emphasizing sustainability and ethical practices as integral components of its corporate philosophy.
Brown-Forman Corporation (NYSE: BFA, BFB) announced a 9% increase in its quarterly cash dividend, raising it from $0.1885 to $0.2055 per share. This change elevates the annual cash dividend from $0.7540 to $0.8220 per share, payable on January 3, 2023. The company has a commendable history, having paid dividends for 79 years and increased them for 39 consecutive years. Furthermore,
Brown-Forman Corporation (NYSE: BF.A, BF.B) has announced a 9% increase in its quarterly cash dividend, raising it from
Brown-Forman Corporation (NYSE: BF.A, BF.B) will announce its Q2 and H1 fiscal 2023 financial results on December 7, 2022, at 8:00 a.m. (EST). A conference call to discuss these results is scheduled for 10:00 a.m. (EST). The call will be accessible via brown-forman.com, with a recording available two hours post-call and lasting for at least 30 days. Brown-Forman boasts a diverse portfolio of brands like Jack Daniel's and operates globally, employing approximately 5,200 people.
Brown-Forman Corporation (NYSE:BF.A, BF.B) has completed the acquisition of Gin Mare brands from Vantguard and MG Destilerías, following an agreement made in September 2022. Although the purchase price remains undisclosed, President and CEO Lawson Whiting expressed enthusiasm for incorporating Gin Mare into their super-premium portfolio, anticipating positive contributions to growth. Gin Mare, known for its Mediterranean-inspired botanicals, will continue production at its original facility in Spain.
Brown-Forman Corporation (NYSE:BF.A, BF.B) has announced its agreement to acquire the Diplomático Rum brand and related assets from Destillers United Group S.L. located in Spain. This strategic move allows Brown-Forman to strengthen its position in the rapidly growing super-premium rum sector. Diplomático Rum is recognized as the world's No. 1 super- and ultra-premium rum, with significant sales in over 100 countries, including France, Germany, and the U.S. The transaction is expected to finalize within 90 days, adding over 100 employees to Brown-Forman’s workforce.
Brown-Forman Corporation (NYSE:BF.A, BF.B) announced its agreement to acquire the Gin Mare brands from Vantguard and MG Destilerías. This acquisition aims to enhance Brown-Forman's super-premium portfolio with Gin Mare, the world’s leading ultra-premium gin, known for its unique Mediterranean botanicals. The brands have shown impressive sales growth and strong European distribution. The deal, pending customary closing conditions, is expected to finalize within 60 business days, further positioning Brown-Forman for long-term global growth.
Brown-Forman Corporation (NYSE: BF.A, BF.B) announced that its President and CEO Lawson Whiting, along with CFO Leanne Cunningham, will participate in the Barclays Global Consumer Staples Conference in Boston on September 7, 2022. The fireside chat is scheduled to start at 12:45 p.m. ET and will be available as a webcast on the Brown-Forman website. A replay will be accessible for at least 30 days post-event. With over 150 years in the beverage industry, Brown-Forman boasts a portfolio of renowned brands sold in over 170 countries.
Brown-Forman Corporation (NYSE: BFA, BFB) reported a robust first quarter for fiscal 2023, with net sales of $1.0 billion, an 11% increase year-over-year (17% organic). Operating income rose 19% to $343 million, while diluted EPS climbed 30% to $0.52. The Jack Daniel’s brand drove significant growth, contributing to double-digit sales increases across various categories. The company anticipates continued mid-single digit organic net sales growth for fiscal 2023, despite market uncertainties. Gross margin enhanced by 80 basis points to 61.8%, aided by favorable pricing and the removal of tariffs.
Brown-Forman Corporation (NYSE: BF.A, BF.B) is set to release its Q1 fiscal 2023 financial results on August 31, 2022, at 8:00 a.m. EDT. A conference call to discuss these results will follow at 10:00 a.m. EDT. Interested parties can access a live audio broadcast via Brown-Forman’s website, with a digital recording available two hours post-call and lasting for 30 days. Brown-Forman has over 150 years in the beverage alcohol industry, offering brands like Jack Daniel's and Woodford Reserve, supported by approximately 5,200 employees across 170 countries.
Brown-Forman Corporation held its annual stockholders' meeting, electing the recommended slate of directors and approving the 2022 Omnibus Compensation Plan. The Board confirmed a regular quarterly cash dividend of $0.1885 per share, payable on October 3, 2022, with a record date of September 6, 2022. The company has paid dividends for 78 consecutive years, increasing them for 38 years. CEO Lawson E. Whiting emphasized the company's focus on long-term growth, aiming for mid-single digit organic revenue growth and high-single digit operating income growth over the next decade.
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