Brown-Forman (BF-A) reported Q4 EPS of $0.31, versus $0.25 reported last year. Revenue for the quarter came in at $996 million, versus $812 million reported last year.
Fiscal Year 2023 Outlook:
The company anticipates continued growth in fiscal 2023 despite global macroeconomic and geopolitical uncertainties. Accordingly, we expect the following in fiscal 2023:
- With the strength of our portfolio of brands and strong consumer demand, we expect organic net sales growth in the mid-single digit range.
- Considering the net effect of inflation and the removal of the EU and UK tariffs on American whiskey, we project reported gross margin to expand slightly.
- Based on the above expectations, we anticipate mid-single digit organic operating income growth.
- We expect our fiscal 2023 effective tax rate to be in the range of approximately 22% to 23%.
- Capital expenditures are planned to be in the range of $190 to $210 million.