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 (BF.A, BF.B) and The Coca-Cola Company (KO) have announced a global partnership to launch a ready-to-drink (RTD) version of the classic Jack & Coke cocktail. This innovative product will combine Jack Daniel’s Tennessee Whiskey and Coca-Cola, aimed at providing convenience and consistency to consumers. The RTD is set to debut in Mexico in late 2022, with plans for a wider rollout. Both companies emphasize responsible marketing and adherence to legal drinking age guidelines in their promotional efforts.
Brown-Forman Corporation (NYSE: BF.A, BF.B) will participate in Deutsche Bank’s dbAccess Global Consumer Conference on June 16, 2022, in Paris. Leanne Cunningham, CFO, is scheduled to speak at 8:30 a.m. (CEST). The session will be available as a webcast on the company’s website. Attendees are advised to log in 10 minutes early. A replay will be accessible for at least 30 days post-event. With a rich history of over 150 years, Brown-Forman offers renowned brands like Jack Daniel’s and Woodford Reserve, supported by approximately 4,700 employees across 170 countries.
Brown-Forman Corporation (NYSE: BF.A, BF.B) reported a strong financial performance for the fourth quarter and fiscal year ending April 30, 2022. Q4 net sales rose 23% to $996 million, with operating income increasing 46% to $246 million. For the full year, net sales grew 14% to $3.93 billion, although diluted EPS fell 7% to $1.74 due to higher taxes. The success of Jack Daniel's Tennessee Whiskey and premium bourbons drove growth. The company returned $831 million to shareholders, including a special $1 per share dividend. Fiscal 2023 guidance anticipates mid-single-digit organic growth amid ongoing global challenges.
Brown-Forman Corporation (NYSE: BF.A, BF.B) has declared a regular quarterly cash dividend of $0.1885 per share for its Class A and Class B Common Stock. Eligible stockholders of record on June 8, 2022 will receive the dividend on July 1, 2022. With a history of 78 years of regular dividends and 38 consecutive years of increases, Brown-Forman continues to be a member of the S&P 500 Dividend Aristocrats index, reflecting its commitment to returning value to shareholders.
Brown-Forman Corporation (NYSE: BF.A, BF.B) will report its fourth quarter and fiscal year 2022 financial results on June 8, 2022, at 8:00 a.m. (EDT). A conference call to discuss these results will follow at 10:00 a.m. (EDT). Investors can access the live audio broadcast on Brown-Forman’s website or dial in using specific phone numbers for U.S. and international callers. The company has a long-standing reputation, selling premium beverage alcohol brands across over 170 countries.
Brown-Forman has welcomed the Biden Administration's tariff agreement with the United Kingdom, effective June 1, 2022, reinstating tariff-free trade for American whiskey. This follows the prior removal of EU tariffs on American whiskey on January 1, 2022. The company expressed gratitude to key officials for their roles in achieving this agreement, emphasizing the importance of the Transatlantic alliance for promoting the international growth of U.S. exports, particularly American-made whiskey.
Brown-Forman Corporation (NYSE:BF.A, NYSE:BF.B) has appointed Dan Muraski as Chief Information Officer and Sailaja Kotra-Turner as Chief Information Security Officer, effective immediately. Muraski brings over 12 years of experience in various IT roles, previously serving as VP of global enterprise applications. Kotra-Turner, who joined the company in September 2020, has shaped the security posture and governance of IT security. These appointments aim to enhance Brown-Forman's IT and analytics capabilities while mitigating risks in a rapidly evolving technological landscape.
Brown-Forman Corporation (NYSE: BFA, BFB) reported strong Q3 and year-to-date results for fiscal 2022, with net sales of $1,037 million, a 14% increase compared to the previous year. Operating income rose 24% to $347 million, while diluted EPS increased 19% to $0.54. Year-to-date net sales rose 11% to $2,937 million, despite a 4% decline in operating income due to prior-year brand sales gains. The company anticipates organic net sales growth of 11% to 13% for the full year, amidst ongoing supply chain challenges.
Brown-Forman Corporation (NYSE:BF.A, NYSE:BF.B) announced key executive leadership changes aimed at enhancing its brand-building and growth strategies. Tim Nall will take on the role of Senior VP and Chief Global Supply Chain and Technology Officer. Crystal Peterson will become the Chief Inclusion and Global Community Relations Officer starting June 15, while Jeremy Shepherd will assume the role of Senior VP & President of USA and Canada on July 15. Alex Alvarez is appointed Senior VP and Chief Sustainability Officer. The company also announced retirements, including Ralph de Chabert and John Hayes.
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