Brown-Forman Shares Up 4 percent Following Q4 Results


Brown-Forman Corporation (NYSE:BF-B) shares closed nearly 4% higher on Wednesday following the company’s reported Q4 results, with revenue of $996 million, compared to $812 million in Q4/21. EPS came in at $0.40, beating the Street estimate of $0.27.
The company delivered Q4 organic growth of 27%, 150 bps of year-over-year gross margin expansion, and 77% EBIT growth. Additionally, the company’s productivity/tight control of overhead spending generated notable operating leverage. The company expects continued growth in 2023 despite global macroeconomic and geopolitical issues.


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