Brown-Forman

Q4 FY2026 EarningsFY26 results showed a split performance: revenue beat consensus by 0.93% reaching $3,928M, and gross margin significantly outperformed at 60.5% vs. 59.28% expected. However, operating income of $1,001M missed the $1,113M consensus by 10.08% due to $132M in non-cash brand impairments for Gin Mare and Diplomático. While cash from operations remained strong at $1,000M (beating expectations), FY27 guidance of flat organic sales and declining operating income suggests continued headwinds in developed markets.