Latest news with #WoodfordReserve
Yahoo
2 hours ago
- Business
- Yahoo
5 industry-shaping names will join the Kentucky Bourbon Hall of Fame. Meet the 2025 class
Five big, industry-shaping names in bourbon are joining the Kentucky Bourbon Hall of Fame. Their roles in bourbon vary dramatically, but their dedication to the industry and overall influence on have earned them a spot in Kentucky's history. The 2025 class of the Kentucky Bourbon Hall of Fame will welcome longtime legislative champion Damon Thayer, trailblazing female entrepreneur Mary Dowling and Larry Ebersol, who played a key role in the craft distilling boom. Craig Beam, a seventh-generation distiller, and 50-year-bourbon veteran and former Woodford Reserve Master Distiller Emeritus Chris Morris are also joining the ranks. The five new members will be inducted in September, which is Bourbon Heritage Month. Each year, candidates for the Kentucky Bourbon Hall of Fame are submitted by Kentucky Distillers Association member distilleries and the KDA Board of Directors through a comprehensive application process. The selection committee chooses a maximum of five inductees each year. More: Brown-Forman shares bleak outlook for company, spirit industry amid tariff uncertainty Here's what to know about the Kentucky Bourbon Hall of Fame class of 2025. Craig Beam, who is a seventh generation distiller in a storied Kentucky family, learned the art and science behind making whiskeys from his grandfather, Earl, and father, Parker, who are both legendary Master Distillers and Bourbon Hall of Fame inductees. He spent part of his career at Heaven Hill Distillery working on the company's flagship brands while also introducing new products, such as the Evan Williams and Elijah Craig single barrel series. He is currently the master distillery at Jackson Purchase Distillery, which is one of Kentucky's fastest growing distilleries. The late Mary Dowling was born in 1859 to Irish immigrants, and throughout her life she overcame anti-Irish sentiments and gender barriers to become a trailblazing bourbon entrepreneur. When her husband died in 1903, she took over the Dowling bourbon empire. She became the first woman to run a major distillery, even though she met plenty of resistance from her bank and competitors trying to force her to sell for pennies on the dollar. During American Prohibition, Dowling moved bourbon production to Mexico. Outside of bourbon, Dowling used her wealth and influence to build churches, champion immigrants as well as advocate for Black and women's rights. She opened a free hospital before her death in 1930. More: She's the 'Mother of Bourbon,' but you've probably never heard of her. Meet Mary Dowling Larry Ebersold's career began at the Seagram's plant in Louisville in 1972 as distillery shift supervisor. He spent nearly four decades in corporate spirits world, working in various departments such as cooking and fermentation, then engineering, and maintenance and utilities. When Diageo and Pernod Ricard purchased the Seagram Company in 2001, his responsibilities expanded beyond the distillery and grain division to include Pernod's barrel inventory, as well as manufacturing planning and sales of bulk whiskies. His diverse career set the stage for a busy retirement. He launched a consulting business in 2010, and his expertise has shaped 31 distilleries, including New Riff, Rabbit Hole and Bardstown Bourbon, collaborating with architects and engineers to design innovative production spaces. Chris Morris is a 50-year veteran of the Kentucky bourbon industry, and his craftsmanship and integrity are recognized around the world through the Brown-Forman's whiskey portfolio. Morris, who is Master Distiller Emeritus for Woodford Reserve, is the mastermind behind brands such as Woodford Reserve Double Oak and the company's celebrated Master's Collection. Morris also is one of the industry's most respected historians, a three-time Chairman of the Kentucky Distillers' Association Board of Directors, and a cherished mentor to his successor at Woodford Reserve, Elizabeth McCall. More: Here are 7 new bourbon, whiskey releases or experiences you need to know about this month Damon Thayer is considered one of the strongest champions of Kentucky bourbon in the history of the Kentucky General Assembly. As retired Senate Majority Leader, Thayer is directly responsible for stewarding more than 20 pieces of legislation that modernized the bourbon industry and propelled it into the bourbon boom of the 2010s and early 2020s. That legislation has position bourbon distilling into an economic and tourism powerhouse for the Kentucky. Reach Courier Journal features columnist Maggie Menderski at mmenderski@ This article originally appeared on Louisville Courier Journal: KDA Kentucky Bourbon Hall of Fame class of 2025
Yahoo
4 days ago
- Business
- Yahoo
Brown-Forman Stock Plunges as Jack Daniel's Maker Warns of Economic Challenges
Brown-Forman said it faces a challenging operating environment this year, and shares sank to a more than 11-year low. The maker of Jack Daniel's whiskey and other alcoholic beverages warned about the impact of macroeconomic volatility, soft consumer demand, tariffs, and sales of used barrels. Fiscal fourth-quarter profit and sales missed (BF.B) was the worst-performing stock in the S&P 500 Thursday after the maker of Jack Daniel's whiskey warned about a "challenging" economic outlook this year. The company that also has brands such as Woodford Reserve, Chambord, and Korbel predicted the operating environment in fiscal 2026 will have "low visibility due to macroeconomic and geopolitical volatility as we face headwinds from consumer uncertainty, the potential impact from currently unknown tariffs, and lower non-branded sales of used barrels." Brown-Forman sees both full-year organic sales and organic operating income to drop by a low-single-digit percent. CEO Lawson Whiting said Brown-Forman faced "softening consumer demand" as well as "an exceptionally challenging macroeconomic environment," and that it expects "continued headwinds." The company reported fiscal 2025 fourth-quarter earnings per share of $0.31, with revenue falling 7% year-over-year to $894 million. Both were short of Visible Alpha forecasts. Shares of Brown-Forman sank more than 15% in recent trading to their lowest level since September 2013. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Business
- Yahoo
Brown-Forman Corp (BF.A) Q4 2025 Earnings Call Highlights: Navigating Challenges with Strategic ...
Reported Net Sales: Decreased 5% in fiscal 2025. Organic Net Sales Growth: Increased 1% after adjustments. Woodford Reserve Organic Net Sales Growth: 8% increase. New Mix Organic Net Sales Growth: Double-digit growth, surpassing 11 million 9-liter cases. Jack Daniel's Tennessee Whiskey Organic Net Sales Growth: Increased 1%. Diplomatico Organic Net Sales Growth: Strong double-digit growth. Gin Mare Organic Net Sales Growth: 1% increase. Operating Income: Reported decrease of 22%; Organic growth of 3%. Gross Margin: Contracted by 150 basis points to 58.9%. Operating Expenses: Lower due to a 6% decrease in organic advertising expense and a 5% decrease in organic SG&A investment. Diluted Earnings Per Share: Decreased 14% to $1.84. Annualized Savings from Strategic Initiatives: Approximately $70 million to $80 million. Cash Received from Duckhorn Sale: $350 million. Dividends Paid: $420 million in fiscal 2025. Long-term Notes Repaid: $300 million. Fiscal 2026 Outlook for Organic Net Sales: Expected low single-digit decline. Fiscal 2026 Capital Expenditure Outlook: $125 million to $135 million. Fiscal 2026 Effective Tax Rate: Expected to be 21% to 23%. Warning! GuruFocus has detected 5 Warning Signs with BF.A. Release Date: June 05, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Woodford Reserve was the largest driver of organic net sales growth, with an 8% increase driven by higher volume and positive price mix. New Mix achieved double-digit organic net sales growth, surpassing 11 million 9-liter cases and gaining market share in Mexico. Jack Daniel's Tennessee Whiskey increased organic net sales by 1%, supported by new media campaigns and sponsorships. Diplomatico delivered strong double-digit organic net sales growth, particularly in France and Germany. Brown-Forman's emerging international markets collectively delivered a 9% organic net sales increase, led by Turkey and Brazil. Reported net sales decreased by 5% in fiscal 2025, with organic net sales growing only 1% after adjustments. Organic net sales in the travel retail channel declined by 5% due to challenging macroeconomic conditions in Asia. Developed international markets saw a 3% decline in organic net sales, with notable declines in Italy, South Korea, and the United Kingdom. Organic net sales for El Jimador and Herradura tequilas declined double-digits due to a competitive environment in the US and economic challenges in Mexico. Brown-Forman incurred $63 million in charges related to workforce reduction and Cooperage closing, impacting financial results. Q: Can you explain the discrepancy between the consumer environment for Brown-Forman and other consumer categories like lodging and leisure, which seem to be performing better? A: Lawson Whiting, President and CEO, explained that while some consumer categories are performing well, others are experiencing weaker demand. He noted that the spirits industry faces unique pressures, such as competition from cannabis and changing consumer preferences, which may not affect other sectors as much. Despite these challenges, spirits continue to gain market share from beer and wine, and premiumization remains a positive trend. Q: What assumptions are included in the fiscal 2026 guidance regarding distributor inventories and consumer demand? A: Leanne Cunningham, CFO, stated that the guidance assumes a continuation of current consumer behavior and trade inventory levels, with no significant changes expected. The guidance also factors in potential disruptions from distributor transitions in the U.S. and a significant reduction in used barrel sales, which are expected to be more than half of fiscal 2025 levels. Q: How does the fiscal 2026 guidance align with the company's long-term growth algorithm, and has there been any change in the growth outlook? A: Lawson Whiting emphasized that the long-term growth algorithm remains unchanged, with expectations for mid-single-digit growth in the U.S. and higher growth in international markets. However, current market conditions, particularly in the U.S. and Europe, are challenging, and the company is focused on strategic initiatives to drive future growth. Q: What is Brown-Forman's strategy regarding pricing in the current environment of slowing demand and increased supply in the U.S. whiskey market? A: Lawson Whiting stated that the company aims for low single-digit price increases regularly. Despite concerns about industry supply, the pricing environment has remained rational, with no significant promotional activity or price reductions observed in the market. Q: How is Brown-Forman addressing potential anti-American sentiment in international markets, and what is the company's approach to advertising and promotion (A&P) spending? A: Lawson Whiting noted that historically, anti-American sentiment has not significantly impacted the Jack Daniel's brand. The company is seeing improvements in brand health measures following recent changes in consumer engagement strategies. Leanne Cunningham added that A&P spending is aligned with depletion-based growth expectations, and the company believes its current investment levels are adequate. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Reuters
5 days ago
- Business
- Reuters
Brown-Forman's gloomy forecasts send shares of Jack Daniel's maker tumbling
June 5 (Reuters) - Brown-Forman (BFb.N), opens new tab forecast a decline in annual revenue and profit on Thursday, as the Jack Daniel's maker navigates soft consumer spending amid tariff-related uncertainties, sending its shares plunging about 15%. Worries of a possible recession and product price increases brought on by international trade wars have dented consumer sentiment in the U.S. and pushed people to cut back on discretionary products such as high-end alcohol. "We anticipate the operating environment for fiscal 2026 will be challenging, with low visibility due to macroeconomic and geopolitical volatility as we face headwinds from consumer uncertainty, the potential impact from currently unknown tariffs," the company said. The U.S. has doubled the tariffs on steel and aluminium imports to 50%, posing a risk for the company that also makes canned ready-to-drink products. The liquor maker had said in March Canadian provinces taking American liquor off store shelves was "worse than a tariff", but noted that it can withstand the impact as Canada accounted for only 1% of its total sales. Brown-Forman, however, benefited from the European Union dropping its planned retaliatory tariff on American whiskey. The owner of Old Forester and Woodford Reserve brands expects both organic net sales and organic operating income for fiscal 2026 to decline in the low single-digit range. It reported an increase of 1% and 3% in organic net sales and organic operating income, respectively, during fiscal 2025. The company's results were indicative of pressure on consumers and their stretched discretionary budgets rather than a decline in premium American spirits, Consumer Edge analyst Connor Rattigan said. Brown-Forman's sales during the quarter ended April 30 fell 7% to $894 million, compared with analysts' average estimate of $967.4 million, according to data compiled by LSEG. Its earnings per share of 31 cents also missed the estimate of 34 cents.
CNBC
5 days ago
- Business
- CNBC
Brown-Forman shares plummet as whiskey maker warns of tariff uncertainty
Shares of Jack Daniel's-maker Brown-Forman plunged more than 18% on Thursday after the company reported quarterly earnings that came in below analyst estimates, weighed down by the impact of tariffs and weak discretionary spending on alcohol. "While our results did not meet our long-term growth aspirations, we made important progress in an exceptionally challenging macroeconomic environment," CEO Lawson Whiting said in the company's earnings release. Here's how the company performed for its fiscal fourth quarter of 2025, compared with Wall Street expectations, according to LSEG: For the fiscal fourth quarter, Brown-Forman reported sales of $894 million, down 7% from the same quarter a year prior. Net income of $146 million, or 31 cents per share, was down 45% from $266 million, or 56 cents per share, a year earlier. While net sales for Brown-Forman's whiskey products — Jack Daniel's and Woodford Reserve — were flat for fiscal year 2025 compared with the prior year, the company's tequila and ready-to-drink portfolios declined 14% and 6%, respectively. For fiscal year 2026, the company expects declines in the single-digit range in both organic net sales and organic operating income. "We anticipate the operating environment for fiscal 2026 will be challenging, with low visibility due to macroeconomic and geopolitical volatility as we face headwinds from consumer uncertainty, the potential impact from currently unknown tariffs, and lower non-branded sales of used barrels," the company said. While Brown-Forman says it's unable to measure potential tariff impact, analysts at Bernstein estimate that a 50% tariff on U.S. whiskey sold in the EU would result in a 10% hit to Brown-Forman's earnings before interest and taxes, or EBIT. Bernstein also noted that in a recessionary environment, distillers typically underperform brewers, which makes Brown-Forman more vulnerable than beverage peers like Constellation Brands, Molson Coors and Anheuser-Busch. In recent months, Canadian liquor stores began removing Jack Daniel's products and other U.S. products in response to President Donald Trump's tariffs. In March, Brown-Forman's Whiting called the removals "worse than a tariff." And the Trump administration this week also doubled the tariffs on steel and aluminum imports to 50%, impacting Brown-Forman's and the broader sector's canned ready-to-drink products.
