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Brown-Forman Corporation (NYSE: BF.A, BF.B) has priced a $650 million 10-year senior unsecured note with a 4.750% interest rate, maturing on April 15, 2033. The proceeds will primarily be used to refinance existing $600 million debt under a 364-day term loan, with any remaining funds allocated for general corporate purposes. The offering, managed by top investment firms, will not constitute a public sale in jurisdictions where it is prohibited without prior registration. Interested parties can access the prospectus via the SEC website or by contacting the underwriters directly.
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Brown-Forman Corporation (NYSE: BFA, BFB) reported a 4% increase in Q3 net sales to $1.1 billion, while operating income fell 50% to $173 million due to a $96 million impairment charge and higher expenses. Diluted earnings per share decreased 61% to $0.21. For the first nine months of FY 2023, net sales rose 8% to $3.2 billion, but operating income dropped 13% to $829 million. The company remains optimistic, forecasting 8-10% organic net sales growth, driven by strong demand and rebuilding of distributor inventories. The board declared a cash dividend of $0.2055 per share, marking 79 consecutive years of dividend payments.
Brown-Forman Corporation (NYSE: BF.A, BF.B) is set to release its third quarter and fiscal 2023 financial results on March 8, 2023, at 8:00 a.m. (EST). A conference call to discuss the results will follow at 10:00 a.m. (EST). The call will be available live via Brown-Forman’s website, with a digital recording accessible approximately two hours after the call, available for at least 30 days. For over 150 years, Brown-Forman has developed fine quality beverage alcohol brands, including Jack Daniel's and Woodford Reserve, sold in over 170 countries and supported by approximately 5,200 employees worldwide.
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Brown-Forman Corporation (NYSE: BF.A, BF.B) has announced a regular quarterly cash dividend of $0.2055 per share on its Class A and Class B Common Stock. The dividend will be payable on April 3, 2023, to stockholders of record on March 8, 2023. As a member of the S&P 500 Dividend Aristocrats index, the company has consistently paid dividends for 79 years and has increased its dividend for 39 consecutive years, reflecting its financial stability and commitment to shareholder returns.
Brown-Forman Corporation (NYSE:BF.A, BF.B) has appointed Larry Combs as Chief Information Officer and Director of Supply Chain Integration and Strategy and Melvin Keebler as General Manager, Jack Daniel Distillery Supply Chain, effective immediately. Combs will oversee application technologies and data strategies, while Keebler will manage operations at the Jack Daniel Distillery and Cooperage. These appointments aim to enhance the company's supply chain capabilities in response to global pressures and improve overall operational efficiency.