**Brown-Forman Corporation** reported a decline in fiscal 2026 net sales by 1% to $3.9 billion, with fourth-quarter sales at $912 million, a 2% increase. Earnings per share dropped 62% year-over-year to 12 cents. The company’s performance reveals a stark contrast between emerging markets, which grew 14% reported and 12% organically, driven largely by the Jack Daniel’s brand in regions like Türkiye, the UAE, and Brazil, and weak developed markets, where U.S. sales dipped 7% and Canadian sales fell nearly 60%.
For fiscal 2027, Brown-Forman anticipates organic net sales to remain flat and operating income to decline by 3-5%. Cash flows from operations increased to $1 billion, up from $598 million, while free cash flow reached $893 million. However, the company faces challenges, including higher input costs and operational disruptions in developed markets, which may continue to affect profitability.
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