Brown-Forman (BF-B) official guidance
Brown-Forman (BF-B) official earnings guidance and management outlook. Each figure management stated is shown with its revisions and the source quote.
See the full Filings Intelligence suiteBF-BBROWN FORMAN CORPFY2027 · ends 2027-04-30
8 metrics4 new3 maintainedearnings call · 2026-09-03 04:01:09 UTC
2026-09-03 04:01:09 UTC$60M – $70Mmaintained-43.9% – -34.6% vs FY2026
We continue to expect capital expenditures to be in the range of $60 million to $70 million, significantly lower than recent years.
BF-B · transcript · Q1 FY2027
2026-09-03 04:00:00 UTCOpen source
2026-09-02 12:03:39 UTC$60M – $70Mmaintained-43.9% – -34.6% vs FY2026
Capital expenditures planned to be in the range of $60 to $70 million.
BF-B · EX-99.1 · Q1 FY2027
2026-09-02 12:03:11 UTCOpen source
2026-06-04 12:03:22 UTC$60M – $70Mnew
Capital expenditures planned to be in the range of $60 to $70 million.
BF-B · EX-99.1 · Q4 FY2026
2026-06-04 12:02:54 UTCOpen source
2026-09-03 04:01:09 UTCdepletions exceeding shipmentsnew
While shipments have benefited from that momentum, particularly for Tennessee Blackberry, we continue to expect the gap between shipments and depletions to narrow as the year progresses, with depletions exceeding shipments for the full fiscal year.
BF-B · transcript · Q1 FY2027
2026-09-03 04:00:00 UTCOpen source
2026-09-03 04:01:09 UTC20% – 22%maintained79 bps – 279 bps vs FY2026
Finally, we continue to expect our effective tax rate to be approximately 20%-22% for fiscal 2027.
BF-B · transcript · Q1 FY2027
2026-09-03 04:00:00 UTCOpen source
2026-09-02 12:03:39 UTC20% – 22%maintained79 bps – 279 bps vs FY2026
Our effective tax rate to be in the range of approximately 20% to 22%.
BF-B · EX-99.1 · Q1 FY2027
2026-09-02 12:03:11 UTCOpen source
2026-06-04 12:03:22 UTC20% – 22%new
Our effective tax rate to be in the range of approximately 20% to 22%.
BF-B · EX-99.1 · Q4 FY2026
2026-06-04 12:02:54 UTCOpen source
2026-09-03 04:01:09 UTCfeel pressure throughout the yearnew
So while we do expect our gross margins to feel pressure throughout the year due to the timing of how some of the whiskey flows out and all that, we still are actually seeing what I would say is based on our own actions, some more favorable things within the overall cost of goods environment.
BF-B · transcript · Q1 FY2027
2026-09-03 04:00:00 UTCOpen source
2026-09-03 04:01:09 UTC-5% – -3%maintained-5% – -3% vs FY2026
Taking all of these factors into account, we continue to expect organic operating income to decline between 3% and 5%.
BF-B · transcript · Q1 FY2027
2026-09-03 04:00:00 UTCOpen source
2026-09-02 12:03:39 UTC-5% – -3%maintained-5% – -3% vs FY2026
Organic operating income to decline in the 3% to 5% range.
BF-B · EX-99.1 · Q1 FY2027
2026-09-02 12:03:11 UTCOpen source
2026-06-04 12:03:22 UTC-5% – -3%new-5% – -3% vs FY2026
Organic operating income decline in the 3% to 5% range.
BF-B · EX-99.1 · Q4 FY2026
2026-06-04 12:02:54 UTCOpen source
2026-09-03 04:01:09 UTCapproximately flat
Overall, based on currently known factors, we continue to expect organic net sales to be approximately flat for fiscal 2027.
BF-B · transcript · Q1 FY2027
2026-09-03 04:00:00 UTCOpen source
2026-09-02 12:03:39 UTCapproximately flat
Organic net sales to be approximately flat.
BF-B · EX-99.1 · Q1 FY2027
2026-09-02 12:03:11 UTCOpen source
2026-06-04 12:03:22 UTCapproximately flatnew
Organic net sales to be approximately flat.
BF-B · EX-99.1 · Q4 FY2026
2026-06-04 12:02:54 UTCOpen source
2026-09-03 04:01:09 UTCa pretty significant dropnew
It ended last year around $30 million, and we expect a pretty significant drop again this year.
BF-B · transcript · Q1 FY2027
2026-09-03 04:00:00 UTCOpen source
2026-09-03 04:01:09 UTCdeclinenew
At the same time, we expect SG&A to decline as we lap the elevated investment levels of fiscal 2026 and begin to realize benefits from actions we have taken to simplify the organization.
BF-B · transcript · Q1 FY2027
2026-09-03 04:00:00 UTCOpen source
BF-BBROWN FORMAN CORPFY2026 · ends 2026-04-30
6 metrics1 lowered2 new3 maintainedearnings release · 2026-03-04 13:02:35 UTC
2026-03-04 13:02:35 UTC$110M – $120Mmaintained-34.1% – -28.1% vs FY2025
Capital expenditures planned to be in the range of $110 to $120 million.
BF-B · EX-99.1 · Q3 FY2026
2026-03-04 13:02:05 UTCOpen source
2025-12-05 05:00:55 UTC$110M – $120Mmaintained-34.1% – -28.1% vs FY2025
We are updating our estimated capital expenditures outlook from a range of $125 million to $135 million to a range of $110 million to $120 million for the full year.
BF-B · transcript · Q2 FY2026
2025-12-05 05:00:00 UTCOpen source
2025-12-04 13:03:29 UTC$110M – $120Mnew-34.1% – -28.1% vs FY2025
The estimated capital expenditures range has been updated to $110 to $120 million from $125 to $135 million.
BF-B · EX-99.1 · Q2 FY2026
2025-12-04 13:02:57 UTCOpen source
2026-03-04 13:02:35 UTC19% – 21%lowered -9.1%-61 bps – 139 bps vs FY2025
The forecasted effective tax rate range has been updated to approximately 19% to 21% from 21% to 23%.
BF-B · EX-99.1 · Q3 FY2026
2026-03-04 13:02:05 UTCOpen source
2025-12-05 05:00:55 UTC21% – 23%maintained139 bps – 339 bps vs FY2025
We also continue to expect our effective tax rate to be in the range of approximately 21% to 23%.
BF-B · transcript · Q2 FY2026
2025-12-05 05:00:00 UTCOpen source
2025-12-04 13:03:29 UTC21% – 23%new139 bps – 339 bps vs FY2025
•Our effective tax rate to be in the range of approximately 21% to 23%.
BF-B · EX-99.1 · Q2 FY2026
2025-12-04 13:02:57 UTCOpen source
2026-03-04 13:02:35 UTCdecline in the low-single digit rangemaintained-3% – -1% vs FY2025
Organic operating income decline in the low-single digit range.
BF-B · EX-99.1 · Q3 FY2026
2026-03-04 13:02:05 UTCOpen source
2025-12-05 05:00:55 UTCdecline in the low single-digit rangemaintained-3% – -1% vs FY2025
Based on the above, we are forecasting organic operating income to decline in the low single-digit range.
BF-B · transcript · Q2 FY2026
2025-12-05 05:00:00 UTCOpen source
2025-12-04 13:03:29 UTCdecline in the low-single digit rangenew-3% – -1% vs FY2025
•Organic operating income decline in the low-single digit range.
BF-B · EX-99.1 · Q2 FY2026
2025-12-04 13:02:57 UTCOpen source
2026-03-04 13:02:35 UTCdecline in the low-single digit rangemaintained-3% – -1% vs FY2025
Organic net sales decline in the low-single digit range.
BF-B · EX-99.1 · Q3 FY2026
2026-03-04 13:02:05 UTCOpen source
2025-12-05 05:00:55 UTCa low single-digit declinemaintained-3% – -1% vs FY2025
For fiscal 2026, based on the currently known factors, we continue to expect a low single-digit decline in organic net sales, and reported gross margin expansion as we believe the benefit from A&D will more than offset the headwinds from negative price/mix and higher costs.
BF-B · transcript · Q2 FY2026
2025-12-05 05:00:00 UTCOpen source
2025-12-04 13:03:29 UTCdecline in the low-single digit rangenew-3% – -1% vs FY2025
•Organic net sales decline in the low-single digit range.
BF-B · EX-99.1 · Q2 FY2026
2025-12-04 13:02:57 UTCOpen source
2025-12-05 05:00:55 UTCreported gross margin expansionnew
For fiscal 2026, based on the currently known factors, we continue to expect a low single-digit decline in organic net sales, and reported gross margin expansion as we believe the benefit from A&D will more than offset the headwinds from negative price/mix and higher costs.
BF-B · transcript · Q2 FY2026
2025-12-05 05:00:00 UTCOpen source
2025-12-05 05:00:55 UTCat most -50%new-50% vs FY2025
We continue to expect used barrel sales to be lower by more than half of fiscal 2025 level.
BF-B · transcript · Q2 FY2026
2025-12-05 05:00:00 UTCOpen source