Brown-Forman reaffirms fiscal 2027 outlook after Q1 results
Brown-Forman said first-quarter fiscal 2027 results were largely in line with expectations and reaffirmed full-year guidance for flat organic net sales and a 3% to 5% decline in organic operating income.
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On Wednesday, Brown-Forman (NYSE: BF ) discussed first-quarter financial results during its earnings call.
The full transcript is provided below.
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View the webcast at Summary Brown-Forman Corporation reported first-quarter fiscal 2027 results largely in line with expectations, driven by strong innovation in its RTD portfolio and Jack Daniel's Tennessee BlackBerry.
Organic net sales for Jack Daniel's Tennessee Whiskey were flat, while the RTD portfolio showed strong growth, particularly in Mexico and the U.S., contributing to overall performance.
The company is reaffirming its fiscal 2027 guidance, expecting organic net sales to be flat and organic operating income to decline between 3% and 5%, with a focus on managing costs and strategic innovation.
Decline in organic net sales was noted in certain areas, such as the non-branded bulk business and some parts of the tequila portfolio, but improvements in El Jimador were highlighted.
CEO Lawson Whiting announced his upcoming retirement, emphasizing a focus on strategic priorities and the search for a successor.
Full Transcript OPERATOR Good day and thank you for standing by.
Welcome to the Brown-Forman Corporation first quarter fiscal year 2027 earnings conference call.
At this time, all participants are in a listen-only mode.
After the speakers' presentation, there will be a question-and-answer session.
To ask a question during this session, you will need to press star 11 on your telephone.
You will then hear an automated message advising your hand is raised.
To withdraw your question, please press star 11 again.
Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your speaker today, Sue Parham, Vice President, Director, Investor Relations.
Ma'am, please go ahead.
Sue Parham, Vice President, Director, Investor Relations Thank you and good morning, everyone.
I would like to thank each of you for joining us today for Brown-Forman's first quarter fiscal year 2027 earnings call.
Joining me today are Lawson Whiting, President and Chief Executive Officer, and Jim Peters, Executive Vice President and Chief Financial Officer.
This morning's conference call contains forward-looking statements based on our current expectations.
Numerous risks and uncertainties may cause actual results to differ materially from those anticipated or projected in these statements.
Many of the factors that will determine future results are beyond the Company's ability to control or predict.
You should not place undue reliance on any forward-looking statements and, except as required by law, the Company undertakes no obligation to update any of these statements, whether due to new information, future events, or otherwise.
This morning we issued a press release containing our results for the first quarter fiscal year 2027, in addition to posting presentation materials that Lawson and Jim will walk through momentarily.
Both the release and the presentation can be found on our website under the section titled Investors Events and Presentations.
In the press release, we have listed a number of the risk factors you should consider in conjunction with our forward-looking statements.
Other significant risk factors are described in our 2026 Form 10-K and from time to time in our Form 10-Q reports filed with the Securities and Exchange Commission.
During this call we will be discussing certain non-GAAP financial measures.
These measures, a reconciliation to the most directly comparable GAAP financial measures, and the reasons management believes they provide useful information to investors regarding the Company's financial condition and results of operations are contained in the press release and investor presentation.
With that, I would like to turn the call over to Lawson.
Lawson E.
Whiting, President & Chief Executive Officer Thank you, Sue, and good morning, everyone.
The first quarter of fiscal 2027 unfolded largely as expected and underscored an important point: innovation is creating meaningful growth opportunities across our portfolio.