Brown-Forman Corporation

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Description

Brown-Forman Corporation delivered disappointing results as the company could not meet the revenue and earnings expectations of Wall Street. The company reported net sales growth climbed by 3%, with organic net sales growth up by 2%. Jack Daniel’s Tennessee Whiskey, Jack Daniel’s Tennessee Apple, and El Jimador all had continued increases in the quarter, which fueled organic net sales growth. The growth rate for Jack Daniel’s Tennessee Whiskey in the first quarter was reportedly reduced by about two percentage points because of the net change in distributor inventories. Jack Daniel’s Tennessee Apple increased organic net sales by more than half. The brand also benefited from a successful launch in South Korea. Tequila demand is still high, notably in the United States. El Jimador was the third-largest contribution to overall business organic growth, growing organic net sales by 26%. Besides, their ready-to-drink portfolio remains strong, with organic net sales increasing by 5%. This was driven by the introduction of Jack Daniel’s into Coca-Cola and the continuous expansion of the new mix, which performed well as the RTD category in Mexico expanded and the brand gained market share. In the quarter, they also commenced their own distribution enterprise in Slovakia, thereby internalizing the distribution process for the first instance after the company’s market entry.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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