An American spirits maker whose portfolio is led by Jack Daniel's Tennessee Whiskey, the world's top-selling American whiskey, along with Woodford Reserve, Old Forester, Herradura, and el Jimador. Founded in 1870 in Louisville, Kentucky, by George Garvin Brown, who pioneered selling bourbon in sealed bottles, it later bought the Jack Daniel's distillery in 1956 and is still controlled by the Brown family. Its name came from George's 1890 partnership with his accountant and friend, George Forman.
At the July 23, 2026 Annual Meeting, Class A stockholders elected all 11 director nominees, with votes ranging from 138,032,245 to 146,159,873 for each nominee.
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Stockholders approved, on a non-binding advisory basis, executive compensation for named executive officers (134,285,645 for, 22,694,767 against).
Stockholders ratified Ernst & Young LLP as independent auditor for fiscal year ending April 30, 2027 (161,754,059 for, 394,078 against).
The Board approved a regular quarterly cash dividend of $0.2310 per share on Class A and Class B common stock, payable October 1, 2026 to stockholders of record September 3, 2026.
CEO Lawson Whiting reiterated his previously announced retirement upon appointment of a successor; the succession process is led by the Corporate Governance and Nominating Committee chaired by Tracy Skeans.
5.07 Submission of Matters to a Vote of Security Holders · 7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits
Brown-Forman CEO Lawson Whiting to retire; board starts successor search
Lawson Whiting announced his retirement as President and CEO of Brown-Forman on July 13, 2026, effective upon appointment of a successor.
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The Board of Directors has initiated a search process considering internal and external candidates, led by the Corporate Governance and Nominating Committee chaired by Tracy Skeans.
Whiting will remain in an advisory capacity after his successor is appointed to ensure business continuity.
The company reiterated its fiscal 2027 outlook as disclosed on June 4, 2026.
Chairman Marshall B. Farrer thanked Whiting for nearly 30 years of service, noting brand growth under his leadership.
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits
Brown-Forman reports fiscal 2026 results: Q4 net sales up 2%, full-year net sales down 1%
Fourth quarter reported net sales increased 2% to $912 million; reported operating income decreased 53% to $96 million; diluted EPS decreased 62% to $0.12.
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Full-year reported net sales decreased 1% to $3.9 billion; reported operating income decreased 10% to $1.0 billion; diluted EPS decreased 17% to $1.53.
Gross margin expanded 160 basis points to 60.5% for the full year.
Cash flows from operations grew $402 million to $1.0 billion; free cash flow increased $462 million to $893 million.
Fiscal 2027 outlook: organic net sales approximately flat, organic operating income decline of 3% to 5%, effective tax rate 20% to 22%, capital expenditures $60 to $70 million.
2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits
Brown-Forman and Pernod Ricard terminate discussions on potential business combination
The companies were unable to reach mutually agreeable terms, according to the press release.
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Brown-Forman Corporation and Pernod Ricard announced on April 28, 2026, that they have terminated discussions regarding a potential business combination.
Discussions were previously confirmed on March 26, 2026, with no assurance of reaching an agreement.
Brown-Forman stated it will focus on strategic and operational priorities to create long-term value for stakeholders.
The disclosure was made under Item 7.01 Regulation FD, with the press release attached as Exhibit 99.1.
7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits
Brown-Forman confirms discussions with Pernod Ricard on potential merger of equals
Brown-Forman issued a press release on March 26, 2026, confirming it is engaged in discussions with Pernod Ricard regarding a potential business combination.
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The contemplated partnership would be akin to a merger of equals, drawing from the talent and expertise of both companies and creating value for shareholders.
Synergies are expected to be significant, creating a global spirits leader with enhanced scale, a powerful brand portfolio, and a balanced geographic footprint.
No agreement has been reached as to the terms of any possible transaction, and there can be no assurance that any such agreement will be reached.
The disclosure was made under Item 7.01 Regulation FD and Item 9.01, with the press release attached as Exhibit 99.1.
7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits
Brown-Forman names Jim Peters CFO, effective March 31, 2026
James W. Peters elected Executive Vice President and CFO, effective March 31, 2026, succeeding Leanne D. Cunningham, who retires May 1, 2026.
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Peters will serve as principal financial officer and report to President and CEO Lawson Whiting.
Peters previously served as EVP, Enterprise Transformation at Whirlpool Corporation and as its EVP, Chief Financial and Administrative Officer from 2016 to 2025.
His compensation includes $825,000 base salary, $17,160 holiday bonus, $825,000 target short-term incentive, and $2,400,000 target long-term incentive.
He will receive a $900,000 RSU award, a $66,000 prorated SSAR award, and a $134,000 prorated PBRSU award.
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits
Brown-Forman reports Q3 fiscal 2026 net sales up 2% to $1.1B, reaffirms full-year outlook
Third quarter reported net sales increased 2% to $1.1 billion (up 1% organic); reported operating income rose 21% to $340 million (flat organic); diluted EPS up 1% to $0.58.
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Nine-month reported net sales decreased 2% to $3.0 billion (flat organic); operating income flat at $905 million (down 3% organic); diluted EPS down 8% to $1.41.
Year-to-date gross margin expanded 50 basis points to 59.9%; operating margin increased 70 basis points to 30.0%.
Company completed $400 million share repurchase program in December 2025; cash flows from operations grew $263 million to $709 million, free cash flow up $299 million to $628 million.
Fiscal 2026 outlook reaffirmed: organic net sales and operating income decline in low-single digits; capital expenditures $110-$120 million; effective tax rate updated to approximately 19%-21%.
2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits
Brown-Forman reports first half fiscal 2026 results; reaffirms full year outlook
Second quarter reported net sales decreased 5% to $1.0 billion; operating income decreased 10% to $305 million; diluted EPS decreased 14% to $0.47.
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First half reported net sales decreased 4% to $2.0 billion; operating income decreased 9% to $565 million; diluted EPS decreased 13% to $0.83.
Gross margin expanded 30 basis points to 59.5% in the first half.
Board authorized a $400 million share repurchase program and increased quarterly dividend by 2% to $0.2310 per share.
Fiscal 2026 guidance reaffirmed: organic net sales and operating income decline in low-single digits; effective tax rate 21%-23%; capital expenditures updated to $110-$120 million.
2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits