Brown-Forman Q1 2022 Earnings Report
Key Takeaways
Brown-Forman's first quarter fiscal 2022 net sales increased by 20% to $906 million, with underlying sales up 18%. Operating income decreased by 25% to $289 million, while diluted earnings per share declined by 41% to $0.40, impacted by the sale of brands in the prior year. The company is closely monitoring potential volatility associated with the evolving pandemic and supply chain disruptions.
Net sales grew 20% (+18% underlying) with strong growth across all geographic clusters and the Travel Retail channel.
Jack Daniel’s family of brands net sales grew 20% (+16% underlying).
Premium bourbons grew net sales 34% (+36% underlying).
The tequila portfolio grew net sales 32% (+23% underlying).
Brown-Forman
Brown-Forman
Forward Guidance
Due to the volatility and uncertainty that continues to exist in the operating environment, including recent COVID-19 trends and global supply chain disruptions, we have revised some of our expectations for fiscal 2022.