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Apr 30, 2020
Brown-Forman Q4 2020 Earnings Report
Brown-Forman's Q4 2020 earnings were impacted by COVID-19, leading to a sales decline.
Key Takeaways
Brown-Forman reported a 5% decrease in net sales for the fourth quarter of fiscal year 2020, totaling $709 million. Diluted earnings per share also decreased by 20% to $0.27. The company's performance was significantly affected by the COVID-19 pandemic, which impacted on-premise and travel retail channels.
Net sales decreased by 5% to $709 million in Q4 2020.
Operating income decreased by 18% to $187 million.
Diluted earnings per share decreased by 20% to $0.27.
COVID-19 pandemic significantly impacted results, especially in on-premise and travel retail channels.
Forward Guidance
Due to the uncertainty caused by the COVID-19 pandemic, Brown-Forman is not providing quantitative guidance for fiscal year 2021. The company expects to continue funding investments and paying regular dividends.
Positive Outlook
- Strong balance sheet
- Solid cash flows
- Ample liquidity
- Attractive portfolio of brands
- Resilient supply chain
Challenges Ahead
- Substantial uncertainty related to the evolving COVID-19 pandemic
- Effect on the global economy
- Difficult to quantify or predict impact with reasonable certainty
- Estimated net change in distributor inventories
- Foreign exchange fluctuations
Historical Earnings Impact
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Avg. Return Before/After Earnings
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