Brown-Forman, maker of Jack Daniel’S whiskey and Woodford Reserve bourbon, has reported a 13% drop in net income for the first quarter of fiscal 2026, in line with market forecasts, while its revenue beat analysts’ expectations.
The company said its net income for the quarter ended 31 July was $170 million, or $0.36 per share, compared with $195 million, or $0.41 per share, for the comparable period a year earlier.
Operating income decreased 7% to $260 million.
Revenue last fiscal quarter fell 3% to $924 million.
Analysts polled by FactSet had forecast net income of $0.36 per share on revenue of $910.1 million.
Brown-Forman said in a press release that the outlook for the sale remains uncertain due to high macroeconomic and geopolitical volatility. Against this backdrop, the company expects organic revenue and operating profit to decline 1-3% (low-single digit) for the beginning of the fiscal year.
Brown-Forman shares are down 0.6% in trading on Thursday. They are down 20.2% since the beginning of the year.