BF-B · 8-K · 20260902PR000048

Guidance and Outlook

BROWN FORMAN CORP · 2026-09-02 · Importance 47 · Surprise 32 · In source text

For fiscal 2027, Brown-Forman expects a challenging operating environment as macroeconomic pressures and geopolitical instability continue to negatively affect consumer behavior and beverage alcohol consumption, particularly in developed markets. The company reaffirmed expected organic net sales to be approximately flat and organic operating income to decline 3%–5%, while forecasting an effective tax rate of approximately 20%–22%. Fiscal 2027 capital expenditures are planned at $60–$70 million; management expects benefits from its restructuring initiative, U.S. distributor changes, and continued product innovation, including expansion of Jack Daniel’s Tennessee Blackberry.

Key facts

• Brown-Forman expects fiscal 2027 organic operating income to decline 3% to 5%. source
• Brown-Forman expects fiscal 2027 organic net sales to be approximately flat. source
• Brown-Forman expects its fiscal 2027 effective tax rate to be approximately 20% to 22%. source
• Brown-Forman expects fiscal 2027 to benefit from its previously announced restructuring initiative, U.S. distributor changes, and continued product innovation, including expansion of Jack Daniel’s Tennessee Blackberry. source
• Brown-Forman anticipates fiscal 2027 operating conditions to remain challenging as macroeconomic pressures and geopolitical instability continue to negatively affect consumer behavior and beverage alcohol consumption, particularly in developed markets. source

Impact estimates