BROWN-FORMAN CORPORATION Reports Record Earnings for First Quarter of Fiscal Year 2024
September 6, 2023
🌥️Earnings Overview
BROWN-FORMAN CORPORATION ($NYSE:BF.B) reported its earnings results for the first quarter of fiscal year 2024 on July 31 2023. Total revenue for the period stood at USD 1038.0 million, a 3.1% increase compared to the same quarter in the prior year. However, net income for Q1 decreased by 7.2%, with the figure coming in at USD 231.0 million.
Share Price
On Wednesday, BROWN-FORMAN CORPORATION stock opened at $66.3 and closed at $66.3, down by 4.0% from the previous closing price of 69.0. The results demonstrate BROWN-FORMAN CORPORATION’s significant progress in expanding its presence in global markets and increasing sales of its premium spirits and wine products. The company’s success is also attributed to its focus on innovation, such as the recently launched e-liquor platform that enables customers to order premium drinks from home. Our success is driven by our focus on innovation, strong partnerships with our customers and distributors, and disciplined execution of our strategies.”
The company expects to build on its current success and continue to deliver value for shareholders in the coming quarters. With strong performance in core markets and successful expansion into new markets, BROWN-FORMAN CORPORATION is well-positioned to continue to drive growth and profitability. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Brown-forman Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 4.26k | 765 | 18.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Brown-forman Corporation. More…
| Operations | Investing | Financing |
| 505 | -1.36k | 383 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Brown-forman Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 8.09k | 4.75k | 6.96 |
Key Ratios Snapshot
Some of the financial key ratios for Brown-forman Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 8.3% | 0.2% | 25.6% |
| FCF Margin | ROE | ROA |
| 7.2% | 20.6% | 8.4% |
Analysis
GoodWhale recently conducted an analysis of BROWN-FORMAN CORPORATION‘s wellbeing, classifying it as a ‘cow’ company. This type of company is known for having a steady track record of paying out consistent and sustainable dividends. As such, this type of company may be attractive to investors looking for reliable and consistent returns. Our Star Chart rated BROWN-FORMAN CORPORATION with a high health score of 9/10. This indicates that the company is strong in terms of cashflows and debt, and is capable to sustain future operations in times of crisis. The company also scored well in terms of dividend and profitability, though it was weak in terms of growth. All of these factors make BROWN-FORMAN CORPORATION an attractive option for investors looking for reliable and consistent long term returns. More…
Peers
In the competitive arena of alcoholic beverages and spirits, Brown-Forman Corp competes with numerous other companies like Jiangsu Yanghe Brewery JSC Ltd, Tsingtao Brewery Co Ltd, Anhui Gujing Distillery Co Ltd, among others. These companies have carved a niche in the global spirits and alcoholic beverages market, providing consumers with a wide range of options.
– Jiangsu Yanghe Brewery JSC Ltd ($SZSE:002304)
Jiangsu Yanghe Brewery JSC Ltd is a leading Chinese brewer of alcoholic beverages. The company specializes in producing beer, distilled spirits, and fruit-based drinks. Its market capitalization has grown steadily over recent years, now standing at 239.61B in 2022. This reflects the company’s continued success and resilience in the highly competitive Chinese beverage market. Additionally, Jiangsu Yanghe Brewery JSC Ltd has achieved a strong return on equity of 16.92%, outperforming many of its competitors in this regard. The company continues to focus on innovation and expansion in order to maintain its strong market position.
– Tsingtao Brewery Co Ltd ($SHSE:600600)
Tsingtao Brewery Co Ltd is a major Chinese brewery company founded in 1903. It is headquartered in Qingdao, Shandong, and is one of the world’s top five brewers. With a market cap of 120.58B as of 2022, Tsingtao Brewery Co Ltd is the largest beer producer in China. The company’s Return on Equity (ROE) of 13.11% is also impressive, providing investors with a strong return on their invested capital. Tsingtao Brewery Co Ltd produces a wide variety of beer products including its flagship lager, Tsingtao Beer. The company also produces non-alcoholic beverages such as soft drinks, teas, and juices.
– Anhui Gujing Distillery Co Ltd ($SZSE:000596)
Anhui Gujing Distillery Co Ltd is a Chinese-based spirits producer and distillery. Founded in 1858, the company has become one of the leading players in the Chinese spirit industry and is also the largest distiller of baijiu, a traditional Chinese liquor. With a market capitalization of 121.75B as of 2022 and a Return on Equity (ROE) of 14.61%, Anhui Gujing Distillery Co Ltd is a well established and successful company in its industry. The company’s success can be attributed to its long history and commitment to producing quality products. The company also has extensive distribution networks in China and other parts of the world, which allows them to capitalize on the growing demand for their products.
Summary
BROWN-FORMAN CORPORATION reported its first quarter of fiscal year 2024 financial results on July 31, 2023, showing total revenue of USD 1038.0 million, a 3.1% increase from the previous year.
However, net income decreased 7.2%, to USD 231.0 million. The stock price consequently dropped the same day in response to the news. Investors should be cautious when analyzing BROWN-FORMAN CORPORATION, given the mixed financial results. Further examination of the company’s revenue and profitability trends over time will be necessary to form a complete investment picture.
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