Stephen Lovekin/Getty Images Entertainment
- Brown-Forman (NYSE:BF.B -5.3%) reports FQ4 net sales of $812M, +14.5% Y/Y, beats consensus by $37.8M.
- For Fiscal year 2021: Jack Daniel’s family of brands underlying net sales grew 4%; premium bourbons maintained double-digit underlying net sales growth; tequila portfolio grew underlying net sales 14%.
- FY 2021:Operating income decreased 10% to $168M and strong free cash flow generation of $755M.
- Q4 GAAP EPS of $0.25 misses consensus by $0.07.
Fiscal 2022 Outlook: “We are optimistic as we look ahead, as we expect the operating environment to continue to improve.We remain confident in the collective strength of our markets and should benefit from the re-opening of the on-premise channel and increase in tourism. Additionally, our portfolio remains well positioned to capitalize on the continuing spirits premiumization trend. For fiscal 2022, we anticipate mid-single digit growth in underlying net sales and operating income.” noted Jane Morreau, Executive VP and CFO.
Contributor comments in 'Buying Brown-Forman Now Will Leave You With A Financial Hangover'
Previously: Brown-Forman EPS misses by $0.07, beats on revenue (June 9)