Sep 21, 4:15 PM ET
Brown-Forman completed the sale of $500 million aggregate principal amount of 5.375% notes due October 15, 2031, on September 21, 2026. The company says it may use the proceeds for general corporate purposes, including dividends, stock repurchases, and repaying or repurchasing existing debt such as commercial paper. The filing adds new long-term debt to the company's obligations, with semi-annual interest payments beginning April 15, 2027.
- Principal amount: $500 million of 5.375% notes due October 15, 2031
- Interest payable semi-annually on April 15 and October 15, beginning April 15, 2027
- Offered under a shelf registration on Form S-3 filed March 9, 2026, with U.S. Bank Trust Company as trustee
- Underwriters include Barclays Capital, BofA Securities, Citigroup, J.P. Morgan and U.S. Bancorp Investments
Read the filing on SEC.gov ↗
Sep 2, 8:03 AM ET
Brown-Forman reported first quarter fiscal 2027 results for the period ended July 31, 2026, with net sales down 1% to $911 million and operating income down 3% to $252 million. Diluted earnings per share rose 6% to $0.38, and the company reaffirmed its full fiscal 2027 outlook, which calls for approximately flat organic net sales and a 3% to 5% decline in organic operating income.
- Net sales fell 1% to $911 million, with organic net sales also down 1%, driven by the end of the Korbel relationship and lower used barrel sales.
- Operating income fell 3% to $252 million, and operating margin declined 50 basis points to 27.7%.
- Diluted EPS rose 6% to $0.38, aided by lower non-operating postretirement expense and share repurchases made in the prior year.
- Fiscal 2027 outlook reaffirmed: organic net sales approximately flat, organic operating income down 3% to 5%, and a regular quarterly dividend of $0.2310 per share payable October 1, 2026.
Read the filing on SEC.gov ↗
Jul 13, 4:40 PM ET
Brown-Forman said President and CEO Lawson Whiting will retire, effective when a successor is appointed, after nearly 30 years with the company. The board has begun a search for a new CEO, and the company reiterated its fiscal 2027 outlook, first disclosed on June 4, 2026, which means the announcement did not change financial guidance. Leadership transitions can add uncertainty, so shareholders will be watching who is chosen and how the company's strategy continues under new leadership.
- Lawson Whiting will retire as President and CEO after nearly 30 years, effective upon the appointment of his successor.
- The Corporate Governance and Nominating Committee, chaired by Tracy Skeans, will lead the search, which will consider internal and external candidates.
- Whiting will remain available in an advisory capacity for a period after a successor is appointed.
- Brown-Forman reiterated its fiscal 2027 outlook, as disclosed on June 4, 2026.
Read the filing on SEC.gov ↗
Jun 4, 8:02 AM ET
Brown-Forman reported fiscal fourth-quarter net sales up 2% to $912 million, but operating income fell 53% to $96 million and diluted EPS fell 62% to $0.12, reflecting a $132 million intangible asset impairment. For the full fiscal year, net sales fell 1% to $3.9 billion and diluted EPS fell 17% to $1.53, and the company expects organic operating income to decline 3% to 5% in fiscal 2027.
- Q4 net sales rose 2% to $912 million; Q4 operating income fell 53% to $96 million
- Other intangible assets impairment was $132 million in the quarter, versus $47 million a year earlier
- Full-year diluted EPS fell 17% to $1.53; full-year free cash flow rose $462 million to $893 million
- Fiscal 2027 outlook: organic net sales approximately flat and organic operating income down 3% to 5%
Read the filing on SEC.gov ↗
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
