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Brown-Forman (NYSE:BFA, BFB) has announced that Diane Nguyen will become the new chief people, places, and communications officer, effective August 1. She succeeds Kirsten Hawley, who will retire on August 9. Nguyen, with 16 years at Brown-Forman, will oversee corporate communications and workplace strategy. She holds degrees from Eastern Kentucky University and the University of Louisville. Hawley has served Brown-Forman since 1997, leading significant initiatives in human resources, marketing, and communications.
Brown-Forman (NYSE: BFA, BFB) announced its fiscal 2024 results, showing a challenging year with mixed performances. In Q4, net sales decreased by 8% to $1.0 billion, while operating income surged 26% to $375 million, and EPS rose 31% to $0.56. For the full year, net sales dropped 1% to $4.2 billion, but operating income improved by 25% to $1.4 billion, and EPS increased 32% to $2.14. The company highlighted declines in key markets but saw growth in emerging markets and travel retail. Significant brand performance included a 6% sales drop for Jack Daniel’s Tennessee Whiskey, while New Mix and Gin Mare showed strong growth. Brown-Forman returned $804 million to shareholders via dividends and share repurchases. Looking ahead to fiscal 2025, the company anticipates 2-4% organic growth in both net sales and operating income, despite macroeconomic uncertainties.
Brown-Forman (NYSE: BFA, BFB) announced a regular quarterly cash dividend of $0.2178 per share for its Class A and Class B Common Stock.
This dividend will be payable on July 1, 2024, to stockholders of record on June 7, 2024. Brown-Forman, a member of the S&P 500 Dividend Aristocrats index, has a history of paying regular quarterly cash dividends for 80 years and increasing them for 40 consecutive years. The company manages renowned alcohol brands like Jack Daniel's and Woodford Reserve, supports around 5,600 employees globally, and operates in over 170 countries.
Brown-Forman (NYSE: BFA, BFB) is set to release its fourth quarter and fiscal year 2024 financial results on June 5, 2024, followed by a conference call to discuss the results. The company offers a diverse portfolio of beverage alcohol brands and operates globally, with products sold in more than 170 countries.
Brown-Forman announced a change in its Emerging International leadership, with Michael Masick becoming President, Emerging International, effective July 1. Thomas Hinrichs will retire after a 28-year career, effective June 30. Masick will lead the strategy for Emerging International markets, including Latin America, Asia, Australia, and more. He has been with Brown-Forman for over 14 years and has extensive experience in finance, strategy, and commercial leadership.
Brown-Forman (NYSE: BFA, BFB) completed the sale of Sonoma-Cutrer Vineyards to The Duckhorn Portfolio, Inc. for $50 million USD and 21.5% ownership in April 2024. Brown-Forman executives Marshall Farrer and Tim Nall join The Duckhorn Portfolio's Board of Directors.
The Duckhorn Portfolio, Inc. (NYSE: NAPA) appoints Deirdre Mahlan as President, CEO, and Chairperson. Mahlan brings 30 years of industry experience and will focus on integrating Sonoma-Cutrer Vineyards acquisition, advancing route-to-consumer strategy, and driving profitable growth. The Company closed the acquisition of Sonoma-Cutrer Vineyards, enhancing its position in the luxury wine market. The Company is conducting a distribution network evaluation and expects third quarter net sales to be $91M-$93M due to soft wine market demand. The Company will provide updated fiscal 2024 outlook on June 6, 2024.
The Duckhorn Portfolio, Inc. (NYSE: NAPA) has successfully acquired Sonoma-Cutrer Vineyards for approximately $50 million in cash and stock, bolstering its position as a premier luxury wine producer in the US. The acquisition adds iconic Chardonnay brands to its portfolio and is expected to drive growth and value creation for stakeholders. This move aligns with the company's strategy to expand its luxury wine offerings and reach a broader consumer base.
Brown-Forman Corporation will hold a virtual investor conference on September 2, 2021, beginning at 9:00 a.m. EDT. The conference will feature presentations from executive leaders discussing the company's strategic priorities under the theme 'Nothing Better in the Market.' Participants can access the webcast via the company's website, which will also provide copies of the presentation slides. The event invites global participation, with specific dial-in options for U.S. and international callers. A replay will be available on the investor relations page.
Brown-Forman Corporation will announce its financial results for the first quarter of fiscal year 2022 on September 1, 2021, at 8:00 a.m. (EDT). Following the release, a conference call is scheduled for 10:00 a.m. (EDT) where management will discuss the results. A live audio broadcast will be available on the company’s website, and a recording will be accessible two hours after the call concludes, remaining available for at least 30 days. Brown-Forman has a legacy of over 150 years, offering a portfolio of renowned brands sold in more than 170 countries.
