Brown-Forman Q3 2022 Earnings Report

Brown-Forman expects organic net sales growth of 11% to 13% for the full year. They project that costs associated with supply chain disruptions and inflationary cost headwinds will continue to have a negative impact on our gross margin, largely offset by a modest positive impact from the removal of tariffs in the EU. They expect organic operating expenses to increase in the 7% to 9% range and anticipate organic income growth of 12% to 16% for the full year. They continue to expect their fiscal 2022 effective tax rate to be in the range of approximately 22% to 23%.