Analyst Consensus ?
ConsensusHold36 ratings
Bullish513.9%
Neutral2466.7%
Bearish719.4%
Brown-Forman Corporation · BF-B · FY2027 Q1 · Calendar Q3 2026
Brown-Forman maintains FY27 outlook as innovation offsets pressure
The call analysis supports a cautiously constructive view of Brown-Forman's near-term operating trajectory: innovation-led growth and stable core Jack Daniel's sales are offsetting softness, but the outlook depends on execution in RTD and flavored whiskey while margin and demand risks persist.
Reported Before market openNYSEConsumer Defensive
$12.56B market cap
75quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.38
Consensus $0.38
EPS surprise
0.0%
Reported versus consensus
Reported revenue
$911.0M
Consensus $914.8M
Revenue surprise
-0.4%
Reported versus consensus
Market reaction
unavailable
Stock move
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Event window
SPY move
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Same window
Abnormal move
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Stock minus SPY
Volume
—
Versus trailing sessions
Subsequent drift
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Up to 20 sessions
Price and volume data were unavailable at publication time.
Ask FN2 about BF-B FY2027 Q1
Transcript, numbers and history already loaded
How did the market react to BF-B FY2027 Q1 earnings, and why?What changed in BF-B's guidance and outlook in FY2027 Q1?Give me the bull and bear case for BF-B after FY2027 Q1 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The quarter's analysis highlighted a sharper-than-expected decline in used-barrel sales, strong U.S. contribution from Jack Daniel's Tennessee Blackberry, continued expansion of New Mix RTD, and a lower capex plan. Management also announced the CEO's upcoming retirement and reaffirmed the FY27 outlook.
Guidance delta
Management maintained the FY27 outlook while expecting organic net sales to be roughly flat.
Key takeaways
- Innovation in ready-to-drink products and flavored whiskey is the main growth driver identified in the call analysis.
- Core Jack Daniel's Tennessee Whiskey was stable, while used-barrel sales and some tequila brands remained headwinds.
- Management plans continued product expansion, brand investment, inventory optimization, and lower capex.
Management priorities
- Expand Jack Daniel's Tennessee Blackberry and New Mix RTD distribution.
- Align brand marketing and SG&A with depletion trends.
- Keep capex at $60–70 million and focus on inventory optimization.
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Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| UBS | Neutral | Neutral | Maintain | Sep 4, 2026 |
| TD Cowen | Hold | Hold | Maintain | Sep 3, 2026 |
| RBC Capital | Sector Perform | Sector Perform | Maintain | Sep 3, 2026 |
| JP Morgan | Underweight | Underweight | Maintain | Sep 3, 2026 |
| Barclays | Equal Weight | Equal Weight | Maintain | Aug 27, 2026 |
| Citigroup | Neutral | Neutral | Maintain | Aug 3, 2026 |
| BNP Paribas | Underperform | Underperform | Maintain | Jun 5, 2026 |
| Bernstein | Market Perform | Market Perform | Maintain | May 13, 2026 |
| Evercore ISI Group | In Line | In Line | Maintain | Mar 5, 2026 |
| Needham | Hold | Hold | Maintain | Oct 16, 2025 |
| Redburn Atlantic | Neutral | Sell | Upgrade | Jul 9, 2025 |
| Truist Securities | Hold | Hold | Maintain | Jun 12, 2025 |
| Roth Capital | Buy | Buy | Maintain | Jun 10, 2025 |
| Deutsche Bank | Hold | Hold | Maintain | Jun 9, 2025 |
| Morgan Stanley | Underweight | Underweight | Maintain | Jun 6, 2025 |
| Roth MKM | Neutral | Neutral | Maintain | Sep 3, 2024 |
| Wedbush | Neutral | Neutral | Maintain | Nov 24, 2023 |
| Goldman Sachs | Sell | Sell | Maintain | Oct 24, 2023 |
| Redburn | Sell | Neutral | Downgrade | Oct 13, 2020 |
| Redburn Partners | Sell | Neutral | Downgrade | Oct 12, 2020 |
| B of A Securities | Underperform | Underperform | Maintain | Aug 26, 2020 |
| MKM Partners | Neutral | Neutral | Maintain | Mar 5, 2020 |
| SunTrust Robinson Humphrey | Hold | Hold | Maintain | Dec 5, 2019 |
| BMO Capital | Market Perform | Market Perform | Maintain | Aug 28, 2019 |
| Cowen & Co. | Outperform | Market Perform | Upgrade | Jul 16, 2018 |
| Societe Generale | Hold | Sell | Upgrade | Dec 6, 2017 |
| Pivotal Research | Hold | Buy | Downgrade | Dec 6, 2017 |
| Credit Suisse | Neutral | Outperform | Downgrade | Jun 7, 2017 |
| Bank of America | Neutral | Buy | Downgrade | Mar 4, 2016 |
| Sterne Agee CRT | Neutral | Buy | Downgrade | Feb 26, 2016 |
| Sterne Agee | Neutral | Buy | Downgrade | Feb 25, 2016 |
| Stifel | Buy | Buy | Maintain | Aug 26, 2015 |
| Stifel Nicolaus | Buy | Buy | Maintain | Jun 4, 2015 |
| Nomura | Neutral | Neutral | Maintain | Mar 4, 2015 |
| ISI Group | Neutral | Buy | Downgrade | Aug 10, 2014 |
| DA Davidson | Buy | Buy | Maintain | Dec 5, 2013 |
Track every rating change on BF-B the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationBrown-Forman Corporation, along with its subsidiaries, operates globally within the alcoholic beverage industry. The company is actively involved in the production, distillation, bottling, international trade (importing and exporting), marketing, and sale of a diverse portfolio of alcoholic products. Its extensive offerings encompass a wide variety of spirits, wines, and whiskey products, including specialty whiskey spirits and flavored whiskey liqueurs. The range also features convenient ready-to-drink and ready-to-pour options, pre-mixed cocktails, vodkas, tequilas, champagnes, brandy, bourbons, and other liqueurs.…
Consumer Defensive peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| KR The Kroger Co. | FY2026 Q2 · Calendar Q3 2026 | +2.8% | +2.7% | Kroger: Strong digital growth offsets softer sales outlook |
| CPB Campbell Soup Company | FY2026 Q4 · Calendar Q3 2026 | +1.1% | -7.0% | Campbell’s leans on savings and innovation amid pressured demand |
| BF-A Brown-Forman Corporation | FY2027 Q1 · Calendar Q3 2026 | +3.0% | — | Brown-Forman holds FY27 outlook as RTD innovation offsets barrel pressure |
| DG Dollar General Corporation | FY2027 Q2 · Calendar Q3 2026 | +23.4% | +2.5% | Dollar General Raises FY2026 Outlook After Strong Q2 |
| DLTR Dollar Tree, Inc. | FY2027 Q2 · Calendar Q3 2026 | +134.8% | -3.9% | Dollar Tree: Strong Q2 execution, but guidance held steady |
| HRL Hormel Foods Corporation | FY2026 Q3 · Calendar Q3 2026 | +4.5% | -10.2% | Hormel raises EPS outlook as foodservice offsets retail pressure |
Latest beats and misses
Who reports nextBeat on EPS
- FPSFY2026 Q4 · September 15, 2026+4.3% EPS+9.5% move
- TCOMFY2026 Q2 · September 15, 2026+22.3% EPS+3.0% move
- KRFY2026 Q2 · September 11, 2026+2.8% EPS+2.7% move
- ADBEFY2026 Q3 · September 10, 2026+0.8% EPS+1.4% move
- ORCLFY2027 Q1 · September 10, 2026+10.3% EPS-1.7% move
- CASYFY2027 Q1 · September 8, 2026+8.7% EPS-14.2% move
Get the BF-B recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-09-03T20:16:33.067665+00:00
- FN2 earnings calendar · 2026-09-20T01:23:12.707946+00:00
- Polygon adjusted daily market bars
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated . For educational purposes only; not investment advice.