Brown-Forman-B

Q1 FY2027 EarningsQ1 FY27 revenue of $911M slightly missed consensus of $915M (-0.4%), while diluted EPS of $0.38 beat expectations of $0.37. Gross margin of 60.2% significantly outperformed the predicted 58.6% (+1.6pct) due to lower input costs. Ready-to-Drink (RTD) revenue surged 20% (led by New Mix), partially offsetting a 12% decline in Tequila and the termination of the Korbel relationship. Full-year FY27 organic guidance remains flat for sales and anticipates a 3-5% decline in organic operating income, consistent with a challenging macro environment.