Articles from Brown-Forman Corporation

Brown-Forman Corporation (NYSE:BFA,BFB) announced today a series of strategic initiatives to position the company for continued growth in the dynamic global spirits market. These initiatives include restructuring the executive leadership team, implementing a workforce reduction affecting approximately 12% of the company’s global workforce, and closing the Louisville-based Brown-Forman Cooperage.

Brown-Forman Corporation (NYSE: BFA, BFB) reported financial results for its second quarter and first half of fiscal 2025, ended October 31, 2024. Second quarter reported net sales decreased 1%1 to $1.1 billion (+3% on an organic basis2) compared to the same prior-year period. In the quarter, reported operating income increased 1% to $341 million (+5% on an organic basis) and diluted earnings per share increased 9% to $0.55.

Brown-Forman Corporation (NYSE:BFA, BFB) announced today that Campbell P. Brown will step down as Chair of the Brown-Forman Board of Directors in July. Subject to his reelection at the annual meeting, he will continue to serve on the Board as a Director. Marshall B. Farrer, a fifth-generation descendent of the company's founder and a current Director of the Board, will assume the role of Chair of the Board, subject to his reelection to the Board.

Brown-Forman Corporation (NYSE: BFA, BFB) announced today that its Board of Directors approved an increase of 4% to the quarterly cash dividend from $0.2178 per share to $0.2265 per share on its Class A and Class B Common Stock. As a result, the indicated annual cash dividend will rise from $0.8712 per share to $0.9060 per share. The dividend is payable on January 2, 2025, to stockholders of record on December 6, 2024.

Brown-Forman Corporation (NYSE: BFA, BFB) will release its second quarter and first half of fiscal year 2025 financial results on December 5, 2024, by 8:00 a.m. (EST), followed by a conference call to discuss the results at 10:00 a.m. (EST).

Brown-Forman Corporation (NYSE: BFA, BFB) announced today that President and Chief Executive Officer Lawson Whiting will participate in TD Cowen's 2nd Annual Sip, Snack & Scrub Summit on September 17, 2024. Brown-Forman’s virtual “fireside chat” will begin at approximately 11:00 a.m. (EDT) and will be available as a webcast on the Brown-Forman website at brown-forman.com on the Investors/Events & Presentations page. A replay will be available on the Brown-Forman website for at least 30 days following the event.

Brown-Forman Corporation (NYSE: BFA, BFB) reported financial results for its first quarter of fiscal 2025, ended July 31, 2024, with net sales decreasing 8%1 to $1.0 billion (-4% on an organic basis2) compared to the same prior year period. Operating income decreased 14% to $281 million (-13% on an organic basis) and diluted earnings per share decreased 14% to $0.41.

Brown-Forman Corporation (NYSE: BFA, BFB) announced today that President and Chief Executive Officer Lawson Whiting and Executive Vice President and Chief Financial Officer Leanne Cunningham will participate in a “fireside chat” during the Barclays Global Consumer Staples Conference in Boston on Wednesday, September 4, 2024. The event will begin at approximately 12:45 p.m. (ET) and will be available as a webcast on the Brown-Forman website at brown-forman.com on the Investors/Events & Presentations page. A replay will be available on the Brown-Forman website for at least 30 days following the event.

Brown-Forman Corporation (NYSE: BFA, BFB) will release its first quarter fiscal year 2025 financial results on August 29, 2024, by 8:00 a.m. (EDT), followed by a conference call to discuss the results at 10:00 a.m. (EDT).

Brown-Forman Corporation (NYSE: BFA, BFB) stockholders met today at the annual meeting of stockholders and elected the slate of directors recommended by the Board of Directors, as submitted in the company’s 2024 Proxy Statement. The stockholders also ratified the selection of Ernst & Young LLP as Brown-Forman's independent registered public accounting firm for fiscal year 2025.

Brown-Forman Corporation (NYSE:BFA,BFB) announced today that Diane Nguyen has been named chief people, places, and communications officer and a member of the company’s executive leadership team (ELT), effective August 1. Kirsten Hawley, who currently holds this position, announced her intent to retire in May, effective August 9.

Brown-Forman Corporation mourns the loss of W.L. Lyons Brown Jr., retired chair of the board and chief executive officer, who passed away on June 9. Brown, a fourth-generation Brown family member, was the great-grandson of the Company’s founder, George Garvin Brown.

Brown-Forman Corporation (NYSE: BFA, BFB) reported financial results for its fourth quarter and fiscal year ended April 30, 2024. Fourth quarter reported net sales decreased 8%1 to $1.0 billion (-5% on an organic basis2) compared to the same prior-year period. In the quarter, reported operating income increased 26% to $375 million (-16% on an organic basis) and diluted earnings per share increased 31% to $0.56.

Brown-Forman Corporation (NYSE: BFA, BFB) announced today that its Board of Directors declared a regular quarterly cash dividend of $0.2178 per share on its Class A and Class B Common Stock. The dividend is payable on July 1, 2024, to stockholders of record on June 7, 2024.

Brown-Forman Corporation (NYSE: BFA, BFB) will release its fourth quarter and fiscal year 2024 financial results on June 5, 2024, by 8:00 a.m. (EDT), followed by a conference call to discuss the results at 10:00 a.m. (EDT).

Brown-Forman Corporation (NYSE:BFA,BFB) announced today a change in its Emerging International leadership and Executive Leadership Team (ELT). Michael Masick will become President, Emerging International, and join the ELT, effective July 1. Thomas Hinrichs, who currently serves in this role, will retire from Brown-Forman after a 28-year career, effective June 30.

Brown-Forman Corporation (NYSE: BFA, BFB), one of the largest American-owned spirits companies, is launching its own distribution business in Japan today, bringing the distribution in-house for the first time since the company entered the market in the 1970s. The new Brown-Forman Japan office opened in the city center of Tokyo at the end of 2023.

Brown-Forman Corporation (NYSE: BFA, BFB) reported financial results for its third quarter and nine months ended January 31, 2024. Third quarter reported net sales decreased 1%1 to $1.1 billion (-2% on an organic basis2) compared to the same prior-year period. In the quarter, reported operating income increased 116% to $373 million (+5% on an organic basis) and diluted earnings per share increased 189% to $0.60.

Brown-Forman Corporation (NYSE: BFA, BFB) today announced that it will host an investor conference in Louisville, Kentucky, on Wednesday, March 20, 2024, with presentations starting at 8:30 a.m. (EDT). A live webcast of the presentations along with a question and answer session with the company’s executive leaders will focus on Brown-Forman’s strategic priorities and long-term ambitions.

Brown-Forman (NYSE: BFA, BFB) has been recognized by Ethisphere, a global leader in defining and advancing the standards of ethical business practices, as one of the 2024 World’s Most Ethical Companies. This is the third consecutive year that the company has received the recognition.

Brown-Forman Corporation (NYSE:BFA, BFB) today announced a commitment of $22.5 million to support the efforts of the Brown-Forman Foundation and Dendrifund. The commitment will be funded from a portion of the proceeds from the company’s recent sale of Finlandia vodka.

Brown-Forman Corporation (NYSE:BFA,BFB), one of the largest American-owned spirits companies, announces today its plan to distribute its own brands in Italy, effective May 1, 2025.

Brown-Forman Corporation (NYSE:BFA,BFB) announced the sale of its cooperage in Trinity, Alabama, to Independent Stave Company (ISCO). The cooperage will continue to make barrels for the Jack Daniel Distillery as part of a strategic relationship between the companies. ISCO will rename the cooperage from the Jack Daniel Cooperage to the Alabama Cooperage upon closing, expected by May 1, 2024.

Brown-Forman Corporation (NYSE:BFA,BFB) announced today new global marketing leadership for its American Whiskey brands. Mark Bacon was named Managing Director, Jack Daniel’s Brands, and Mia Simpson Culp was named Managing Director, Woodford Reserve and Old Forester, effective March 1. Bacon and Culp will be responsible for all aspects of global marketing and innovation for their respective brand portfolios.

Brown-Forman Corporation (NYSE: BFA, BFB) will release its third quarter and year-to-date fiscal 2024 financial results on March 6, 2024, by 8:00 a.m. (EST), followed by a conference call to discuss the results at 10:00 a.m. (EST).

Brown-Forman Corporation (NYSE:BFA,BFB) announced today a change in its European leadership and Executive Leadership Team (ELT). Effective March 1, 2024, Yiannis Pafilis will become Executive Vice President, President, Europe, and join the ELT. Marshall Farrer, who currently serves as Executive Vice President, Chief Strategic Growth Officer and President, Europe, will retain his responsibilities as Chief Strategic Growth Officer and continue to serve on the ELT and Brown-Forman Board of Directors.

Brown-Forman Corporation (NYSE: BFA, BFB) announced today that its Board of Directors declared a regular quarterly cash dividend of $0.2178 per share on its Class A and Class B Common Stock. The dividend is payable on April 1, 2024, to stockholders of record on March 8, 2024.

Brown-Forman Corporation (NYSE: BFA, BFB) announces today that Matt Hamel, executive vice president, general counsel and secretary, will retire on May 1. Mike Carr, vice president, associate general counsel for regional and corporate development, will succeed Hamel at that time.

Brown-Forman Corporation (NYSE: BFA, BFB) reported financial results for its second quarter and first half of fiscal 2024 ended October 31, 2023. Second quarter reported net sales increased 1%1 to $1.1 billion (-1% on an organic basis2) compared to the same prior-year period. In the quarter, reported operating income increased 8% to $339 million (+9% on an organic basis) and diluted earnings per share increased 6% to $0.50.

Brown-Forman Corporation (NYSE: BFA, BFB) announced today that its Board of Directors approved an increase of 6% to the quarterly cash dividend from $0.2055 per share to $0.2178 per share on its Class A and Class B Common Stock. As a result, the indicated annual cash dividend will rise from $0.8220 per share to $0.8712 per share. The dividend is payable on January 2, 2024, to stockholders of record on December 1, 2023.

Brown-Forman Corporation (NYSE: BFA, BFB) will release its second quarter and first half of fiscal year 2024 financial results on December 6, 2023, by 8:00 a.m. (EST), followed by a conference call to discuss the results at 10:00 a.m. (EST).

Brown-Forman Corporation (NYSE:BFA,BFB) announced today that it has completed the sale of the Finlandia vodka brand to Coca-Cola HBC AG on November 1, 2023. In June 2023, Brown-Forman disclosed it had reached an agreement to sell the brand for $220 million subject to adjustments related to inventory and other working capital items.

Brown-Forman Corporation (NYSE: BFA, BFB) announced that its Board of Directors has approved a $400 million share repurchase authorization, commencing October 2, 2023, through October 1, 2024, subject to market and other conditions. Under the repurchase program, the company can repurchase Class A and Class B common shares for cash in open market purchases, block transactions, purchases made in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, and privately negotiated transactions, in accordance with applicable laws and regulations. This share repurchase program does not obligate the company to repurchase a minimum number of shares of Class A or Class B common stock, and this share repurchase program may be modified, suspended, or terminated by the company at any time without prior notice.

Brown-Forman Corporation (NYSE: BFA, BFB) announced today that President and Chief Executive Officer Lawson Whiting and Executive Vice President and Chief Financial Officer Leanne Cunningham will participate in a “fireside chat” during the Barclays Global Consumer Staples Conference in Boston on Wednesday, September 6, 2023. The event will begin at approximately 12:45 p.m. (ET) and will be available as a webcast on the Brown-Forman website at brown-forman.com on the Investors/Events & Presentations page. A replay will be available on the Brown-Forman website for at least 30 days following the event.

Brown-Forman Corporation (NYSE:BFA,BFB), one of the largest American-owned spirits and wine companies, is launching its own distribution business in Slovakia today, bringing the distribution in-house for the first time since the company entered the market.

Schedule D Supplemental Information should read: Developed International (3%), Emerging 1%, Travel Retail 3% (instead of Developed International 1%, Emerging 3%, Travel Retail (1%).)

Brown-Forman Corporation (NYSE: BFA, BFB) will release its first quarter of fiscal year 2024 financial results on August 30, 2023, by 8:00 a.m. (EDT), followed by a conference call to discuss the results at 10:00 a.m. (EDT).

Brown-Forman Corporation (NYSE: BFA, BFB) stockholders met today at the annual meeting of stockholders and elected the slate of directors recommended by the Board of Directors, as submitted in the company’s 2023 Proxy Statement. The stockholders also approved the compensation of the company’s named executive officers, approved a frequency of every three years for future advisory votes to approve the compensation of the company’s named executive officers, and ratified the selection of the independent registered public accounting firm for fiscal year 2024.

Brown-Forman Corporation (NYSE:BFA, BFB) announces today that it has reached an agreement to sell its Finlandia vodka brand to Coca-Cola HBC AG for $220 million, subject to the customary closing process. The purchase is expected to close in the second half of the 2023 calendar year.

Brown-Forman Corporation (NYSE: BFA, BFB) reported financial results for its fourth quarter and fiscal year ended April 30, 2023. For the fourth quarter, reported net sales increased 5%1 to $1.0 billion (+4% on an organic basis2). In the quarter, reported operating income increased 21%1 to $298 million (+3% on an organic basis) and diluted earnings per share increased 36% to $0.43 in the quarter.

Brown-Forman Corporation (NYSE:BFA,BFB), one of the largest American-owned spirits and wine companies, announces today its plan to distribute its own brands in Japan, effective April 1, 2024.

Brown-Forman Corporation (NYSE:BFA,BFB) today announces plans to expand its Casa Herradura tequila distillery in Jalisco, Mexico. The approximate $200 million USD investment will allow the company to meet the increasing global demand for its premium tequilas. Construction is expected to begin in July, 2023.

Brown-Forman Corporation (NYSEBFA) NYSE: BFBNYSEBFB)

Brown-Forman Corporation (NYSE: BFA, BFB) will release its fourth quarter and fiscal year 2023 financial results on June 7, 2023, by 8:00 a.m. (EDT), followed by a conference call to discuss the results at 10:00 a.m. (EDT).

Brown-Forman Corporation (NYSE: BFA, BFB) today announced the pricing of a $650 million 10-year senior unsecured note. The 4.750% 10-year senior notes are due April 15, 2033. Brown-Forman intends to use the net proceeds from the offering to refinance its existing $600 million of outstanding debt under its senior unsecured 364-day term loan credit agreement, with the remainder to be used for general corporate purposes.

Brown-Forman has been recognized by Ethisphere, a global leader in defining and advancing the standards of ethical business practices, as one of the 2023 World’s Most Ethical Companies. This is the second year that the company has received the recognition.

Brown-Forman Corporation (NYSE: BFA, BFB) reported financial results for its third quarter and nine months ended January 31, 2023. For the third quarter, reported net sales1 increased 4% to $1.1 billion (+5% on an organic basis2) compared to the same prior-year period. Reported operating income decreased 50% to $173 million (-11% on an organic basis) reflecting lower gross margin, a non-cash impairment charge of $96 million for the Finlandia brand name, and higher operating expenses including certain post-closing costs and expenses in connection with the acquisitions of Diplomático and Gin Mare. Diluted earnings per share decreased 61% to $0.21 in the quarter, driven primarily by the decrease in reported operating income and a $27 million pension settlement charge.

First paragraph should read: Brown-Forman Corporation (NYSE: BFA, BFB) will release its third quarter and year-to-date fiscal 2023 financial results on March 8, 2023, by 8:00 a.m. (EST), followed by a conference call to discuss the results at 10:00 a.m. (EST). (instead of Brown-Forman Corporation (NYSE: BFA, BFB) will release its third quarter and fiscal 2023 financial results on March 8, 2023, by 8:00 a.m. (EST), followed by a conference call to discuss the results at 10:00 a.m. (EST).)

Brown-Forman Corporation (NYSE: BFA, BFB) announced today that its Board of Directors declared a regular quarterly cash dividend of $0.2055 per share on its Class A and Class B Common Stock. The dividend is payable on April 3, 2023, to stockholders of record on March 8, 2023. Brown-Forman, a member of the prestigious S&P 500 Dividend Aristocrats index, has paid regular quarterly cash dividends for 79 years and has increased the cash dividend for 39 consecutive years.

Brown-Forman Corporation (NYSEBFA) NYSE:BFBNYSEBFB)

Brown-Forman Corporation (NYSE:BFA,BFB) announced today that it has completed its acquisition of the Diplomático Rum brand and related assets from Destillers United Group S.L. (Spain). The company announced its agreement to purchase the brand in October 2022, giving Brown-Forman an entry into the growing super-premium+ rum category.

Brown-Forman Corporation (NYSE: BFA, BFB) reported financial results for its second quarter and the first half of fiscal 2023. For the second quarter, reported net sales1 increased 10% to $1.1 billion (+16% on an organic basis2) compared to the same prior-year period. Reported operating income decreased 2% to $313 million (+8% on an organic basis) in the quarter, and diluted earnings per share decreased 4% to $0.47.

Brown-Forman Corporation (NYSE:BFA,BFB) announced today that Marshall Farrer, President, Europe, will expand his leadership responsibilities and be named Executive Vice President, Chief Strategic Growth Officer, effective January 1, 2023.

Brown-Forman Corporation (NYSE: BFA, BFB) announced today that its Board of Directors approved an increase of 9% to the quarterly cash dividend from $0.1885 per share to $0.2055 per share on its Class A and Class B Common Stock. As a result, the indicated annual cash dividend will rise from $0.7540 per share to $0.8220 per share. The dividend is payable on January 3, 2023, to stockholders of record on December 2, 2022. Brown-Forman, a member of the prestigious S&P 500 Dividend Aristocrats index, has paid regular quarterly cash dividends for 79 years and has increased the cash dividend for 39 consecutive years.

Brown-Forman Corporation (NYSE: BFA, BFB) will release its second quarter and first half of fiscal year 2023 financial results on December 7, 2022, by 8:00 a.m. (EST), followed by a conference call to discuss the results at 10:00 a.m. (EST).

Brown-Forman Corporation (NYSE:BFA,BFB) announced today that it has completed the purchase of the Gin Mare brands from Vantguard and MG Destilerías. The company announced its agreement to purchase in September 2022. Purchase price was not disclosed.

Brown-Forman Corporation (NYSE:BFA, BFB) announced today it has reached an agreement to purchase the Diplomático Rum brand and related assets from Destillers United Group S.L. (Spain). Upon completion of the transaction, Brown-Forman will add the Diplomático Rum family of brands to its portfolio and acquire a production facility located in Panama.

Brown-Forman Corporation (NYSE:BFA,BFB) announced today it has reached an agreement to purchase the Gin Mare brands from Vantguard and MG Destilerías. Upon completion of the transaction, Brown-Forman will add Gin Mare and Gin Mare Capri to its growing portfolio.

Brown-Forman Corporation (NYSE: BFA, BFB) announced today that President and Chief Executive Officer Lawson Whiting and Senior Vice President and Chief Financial Officer Leanne Cunningham will participate in the Barclays Global Consumer Staples Conference in Boston on Wednesday, September 7, 2022.

Brown-Forman Corporation (NYSE: BFA, BFB) reported financial results for its first quarter of fiscal 2023 with reported net sales1 increasing 11% to $1.0 billion (+17% on an organic basis2) compared to the same prior-year period. In the quarter, reported operating income increased 19% to $343 million (+32% on an organic basis) and diluted earnings per share increased 30% to $0.52.

Brown-Forman Corporation (NYSE: BFA, BFB) will release its first quarter of fiscal year 2023 financial results on August 31, 2022 by 8:00 a.m. (EDT), followed by a conference call to discuss the results at 10:00 a.m. (EDT).

Brown-Forman Corporation (NYSEBFA) NYSE: BFBNYSEBFB)(NYSE: KONYSEKO today announced a global relationship to debut the iconic Jack & Coke cocktail as a branded, ready-to-drink (RTD) pre-mixed cocktail option.

Brown-Forman Corporation (NYSE: BFA, BFB) will present at Deutsche Bank’s annual dbAccess Global Consumer Conference on June 16, 2022 in Paris.

Brown-Forman Corporation (NYSE: BFA, BFB) reported financial results for its fourth quarter and fiscal year ended April 30, 2022. For the fourth quarter, the company’s reported net sales1 of $996 million increased 23% (+27% on an organic basis2). In the quarter, reported operating income increased 46% to $246 million (+62% on an organic basis) and diluted earnings per share increased 26% to $0.31.

Brown-Forman Corporation (NYSEBFA) NYSE: BFBNYSEBFB)

Brown-Forman Corporation (NYSE: BFA, BFB) will release its fourth quarter and fiscal year 2022 financial results on June 8, 2022, by 8:00 a.m. (EDT), followed by a conference call to discuss the results at 10:00 a.m. (EDT).

Brown-Forman issued this statement regarding the tariff agreement announced today.

Brown-Forman Corporation (NYSEBFA) NYSE:BFBNYSEBFB)

Brown-Forman (NYSEBFB) NYSE:BFANYSEBFA)

Brown-Forman Corporation (NYSE: BFA, BFB) will release its third quarter and fiscal 2022 year-to-date financial results on March 3, 2022, by 8:00 a.m. (EST), followed by a conference call to discuss the results at 10:00 a.m. (EST).

Brown-Forman Corporation (NYSEBFA) NYSE: BFBNYSEBFB)

Brown-Forman Corporation (NYSE: BFA, BFB) announced that Jan Singer has been elected to the company’s Board of Directors, effective immediately. The election of Singer increases the number of directors on Brown-Forman’s Board to 12.

Please replace the release with the following corrected version due to multiple revisions in the text (including the "First Half of Fiscal 2022 Market Results", "First Half of Fiscal 2022 Other P&L Items" and "Fiscal 2022 Outlook" bullet sections.)

Brown-Forman Corporation (NYSE: BFA, BFB) announced financial results for its second quarter and first half of fiscal 2022. For the second quarter, the company’s net sales1 of $994 million increased 1% (+7% on an underlying basis2) compared to the same prior-year period. In the quarter, operating income decreased 2% to $322 million (+10% on an underlying basis) and diluted earnings per share decreased 2% to $0.49.

Insert in third paragraph of release: ''...or $1.00 per share...''