Brown-Forman Corp. - Ordinary Shares - Class B

Brown-Forman's first quarter fiscal year 2025 results were in line with expectations, with organic net sales decreasing 4%.

The company reaffirmed its full-year growth outlook for fiscal 2025, expecting a return to growth driven by gains in international markets and the normalization of inventory trends.

Gross profit and margin were impacted by timing factors, including transition service agreements and higher input costs for Tequila brands. However, favorable product mix and pricing strategy contributed to gross margin expansion.