Brown-Forman Corporation reported first-quarter fiscal 2027 earnings of 38 cents per share, up 6% year over year and meeting the Zacks Consensus Estimate, while net sales of $911 million declined 1% and missed the consensus mark of $921.2 million by 1.1%. The top line was pressured by the end of the Korbel relationship, lower used barrel sales, and tequila weakness, but Ready-to-Drink sales rose 20%, led by a 48% jump in New Mix. Gross profit fell 1% to $549 million, with gross margin expanding 40 basis points to 60.2%, while operating income declined 3% to $252 million on a reported basis but increased 4% organically. The company reaffirmed its fiscal 2027 outlook for organic net sales to be approximately flat and organic operating income to decline 3-5%, projecting an effective tax rate of 20-22% and capital expenditure of $60-$70 million.
Brown-Forman CorporationQ1 sales missed estimates and operating income declined, though earnings met.
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