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Oct 31, 2020
Brown-Forman Q2 2021 Earnings Report
Brown-Forman's second-quarter and first-half fiscal 2021 results were announced, showing resilience amidst an unprecedented environment.
Key Takeaways
Brown-Forman reported essentially flat net sales for the second quarter of fiscal 2021, with a slight decrease in operating income and diluted earnings per share. However, underlying net sales grew by 4%. The first half of the fiscal year saw a slight decrease in reported net sales but an increase in reported operating income and diluted earnings per share.
Underlying net sales grew by 4% in the first half of fiscal 2021.
Premium bourbons experienced strong underlying net sales growth of 22%.
The tequila portfolio saw an underlying net sales increase of 13%.
The company is not providing quantitative guidance for fiscal year 2021 due to the substantial uncertainty in the rapidly evolving environment.
Brown-Forman
Brown-Forman
Forward Guidance
The company continues to face substantial uncertainty in the rapidly evolving environment due to COVID-19 and its effect on the global economy. As a result of this ongoing uncertainty and expected volatility, the company is not providing quantitative guidance for fiscal year 2021.