AI English summary of an SEC filing — figures as filed
Brown-Forman BF.BThe company said net sales for the 3-month period ended July 31, 2024 were $1.0 billion, down $87 million or 8%. It cited lower volumes, the effect of acquisitions and divestitures, the effect of foreign exchange and the impact of JDCC as factors, partially offset by favorable price/mix.
Key points
AI summaryThe company said net sales for the 3-month period ended July 31, 2024 were $1.0 billion, down $87 million or 8%. It cited lower volumes, the effect of acquisitions and divestitures, the effect of foreign exchange and the impact of JDCC as factors, partially offset by favorable price/mix.
The company said gross margin fell 3.3 percentage points over the same 3 months, from 62.7% to 59.4%. It also said operating income was $281 million, down $46 million or 14%. Its operating margin went from 31.5% to 29.6%.
The company said operating expenses for the same 3 months were $284 million, down $40 million or 12%. It said diluted earnings per share were $0.41, down 14% from $0.48 a year earlier. It cited the gain on the sale of the Alabama cooperage and the Franchise Tax Refund among the factors reducing operating expenses.
The company said cash and cash equivalents were $416 million as of July 31, 2024. Net cash provided by operating activities for the 3 months was $17 million, down $21 million from a year earlier. The company said $51 million of cash was used in financing activities over the same period.
Key figures
Quarter ended July 31, 2024
- Revenue
- $951M
- Operating income
- $281M
- Net income
- $195M
- EPS
- $0.41
- Gross profit
- $565M
- Operating cash flow
- $17M
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.
Brown-Forman net sales for the July 31, 2024 quarter $1.0 billion
The company said net sales for the 3-month period ended July 31, 2024 were $1.0 billion, down $87 million or 8%. It cited lower volumes, the effect of acquisitions and divestitures, the effect of foreign exchange and the impact of JDCC as factors, partially offset by favorable price/mix.
Source · Based on the MD&A text of the filing
Gross Margin 59.4%, Operating Income $281 million
The company said gross margin fell 3.3 percentage points over the same 3 months, from 62.7% to 59.4%. It also said operating income was $281 million, down $46 million or 14%. Its operating margin went from 31.5% to 29.6%.
Source · Based on the MD&A text of the filing
Operating Expenses $284 million, Diluted EPS $0.41
The company said operating expenses for the same 3 months were $284 million, down $40 million or 12%. It said diluted earnings per share were $0.41, down 14% from $0.48 a year earlier. It cited the gain on the sale of the Alabama cooperage and the Franchise Tax Refund among the factors reducing operating expenses.
Source · Based on the MD&A text of the filing
Cash $416 million, Operating Cash Flow $17 million
The company said cash and cash equivalents were $416 million as of July 31, 2024. Net cash provided by operating activities for the 3 months was $17 million, down $21 million from a year earlier. The company said $51 million of cash was used in financing activities over the same period.
Source · Based on the MD&A text of the filing
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
Loading the filing text…