Brown-Forman

Q4 FY2026 EarningsFY26 net sales decreased 1% to $3.9B, primarily due to the divestiture of Finlandia and Sonoma-Cutrer and ending the Korbel relationship. Reported operating income fell 10% to $1.0B, impacted by $132M in non-cash impairment charges for the Gin Mare and Diplomático brands. Diluted EPS was $1.53, down 17% YoY. Despite top-line pressure, gross margin expanded 160bps to 60.5%, supported by favorable portfolio shifts and lower agave costs.