Brown-Forman Corporation (NYSE:BF.A, NYSE:BF.B) has appointed Dan Muraski as Chief Information Officer and Sailaja Kotra-Turner as Chief Information Security Officer, effective immediately. Muraski brings over 12 years of experience in various IT roles, previously serving as VP of global enterprise applications. Kotra-Turner, who joined the company in September 2020, has shaped the security posture and governance of IT security. These appointments aim to enhance Brown-Forman's IT and analytics capabilities while mitigating risks in a rapidly evolving technological landscape.
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Brown-Forman Corporation (NYSE: BFA, BFB) reported strong Q3 and year-to-date results for fiscal 2022, with net sales of $1,037 million, a 14% increase compared to the previous year. Operating income rose 24% to $347 million, while diluted EPS increased 19% to $0.54. Year-to-date net sales rose 11% to $2,937 million, despite a 4% decline in operating income due to prior-year brand sales gains. The company anticipates organic net sales growth of 11% to 13% for the full year, amidst ongoing supply chain challenges.
Brown-Forman Corporation (NYSE:BF.A, NYSE:BF.B) announced key executive leadership changes aimed at enhancing its brand-building and growth strategies. Tim Nall will take on the role of Senior VP and Chief Global Supply Chain and Technology Officer. Crystal Peterson will become the Chief Inclusion and Global Community Relations Officer starting June 15, while Jeremy Shepherd will assume the role of Senior VP & President of USA and Canada on July 15. Alex Alvarez is appointed Senior VP and Chief Sustainability Officer. The company also announced retirements, including Ralph de Chabert and John Hayes.
Brown-Forman Corporation (NYSE: BF.A, BF.B) will announce its third quarter and fiscal 2022 year-to-date financial results on March 3, 2022, at 8:00 a.m. (EST). A conference call will follow at 10:00 a.m. (EST) to discuss these results, with an audio broadcast available on the company's website. Participants can join by calling 833-962-1472 in the U.S. or 442-268-1255 internationally. Brown-Forman has a strong portfolio including brands like Jack Daniel's and Woodford Reserve, selling in over 170 countries with around 4,700 employees.
Brown-Forman Corporation (NYSE: BF.A, BF.B) has declared a quarterly cash dividend of $0.1885 per share for its Class A and B Common Stock. This dividend will be paid on April 1, 2022, to stockholders of record as of March 8, 2022. As a member of the S&P 500 Dividend Aristocrats index, Brown-Forman has consistently paid dividends for 78 years and has raised its dividend for 38 consecutive years, demonstrating a commitment to returning value to shareholders.
Brown-Forman Corporation (NYSE: BF.A, BF.B) has elected Jan Singer to its Board of Directors, increasing the total number of directors to 12. Singer, former CEO of J.Crew and Victoria's Secret, brings extensive leadership experience in consumer and retail sectors. She has successfully implemented financial restructuring and brand positioning strategies. The Board Chair, Campbell P. Brown, emphasized her capability in building brands for long-term growth, which may strengthen Brown-Forman's strategic direction.
Brown-Forman Corporation (NYSE: BFA, BFB) reported its financial results for Q2 and the first half of fiscal 2022. Net sales increased by 1% to $994 million in Q2 and 9% to $1,900 million for the first half, driven by strong performances in the premium spirits sector, especially Jack Daniel’s and tequila brands. However, operating income fell by 2% in Q2 and 15% for the first half, with diluted earnings per share decreasing by 2% and 24%, respectively. The company anticipates continued growth despite supply chain disruptions and recently raised its sales growth outlook for the fiscal year.
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Brown-Forman Corporation (NYSE: BF.A, BF.B) has announced a 5% increase in its quarterly cash dividend to $0.1885 per share, raising the annual dividend from $0.7180 to $0.7540. This marks the 38th consecutive year of dividend increases. A special cash dividend of $480 million, or $1.00 per share, is also declared, payable on December 29, 2021. Stockholders of record by December 3, 2021 will benefit from the increased dividends.