NYSE$BF-A
Brown Forman Corporation · Q2 2026 earnings
Q2 2026 earnings · · Before market open · Investor relations
Briefing
Brown-Forman reported a decline in earnings and revenue for Q2 2026.
Brown-Forman posted weaker quarterly results, with lower net income and revenue driven by the end of the Korbel relationship and a challenging U.S. market. However, the company reaffirmed its full-year guidance and maintained solid gross margin performance.
- Revenue for Q2-26 fell to $1.036 billion from $1.095 billion.
- EPS dropped to $0.47 from $0.55 in the prior year.
- Net income decreased to $224 million from $258 million.
- Gross margin slightly improved to 59.3% despite revenue decline.
Headline financials
Revenue & EPS history
Brown-Forman · Revenue · Quarterly
$1.04B
Forward guidance
Brown-Forman reaffirmed its full-year outlook despite a volatile macroeconomic backdrop.
Tailwinds
- Fiscal 2026 guidance reaffirmed.
- Gross margin expansion supported by acquisitions.
- Free cash flow significantly increased to $236 million.
- Dividend increased for the 42nd consecutive year.
- Travel Retail and Emerging Markets showed strong growth.
Headwinds
- End of Korbel relationship continues to impact U.S. sales.
- Developed International markets remain under pressure.
- Non-branded and bulk revenue declined sharply.
- Tequila portfolio saw volume and revenue contraction.
- Challenging operating environment due to macroeconomic volatility.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2026
-0.4%
Avg return
Earnings day
-1.3%
Avg return
5 days after
-3.2%
Avg return
30 days after
41%
28 / 68 earnings
Positive
+10.4%
Q1 2021
Best reaction
-9.1%
Q3 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | -5.7% | -10.8% | -4.9% | |
| Q2 2026 | +0.1% | +0.1% | -11.2% | |
| Q1 2026 | -4.8% | -3.9% | -13.1% | |
| Q4 2025 | +0.0% | -0.8% | +6.9% | |
| Q3 2025 | +10.2% | +14.6% | -2.4% | |
| Q2 2025 | +8.8% | +10.7% | -11.0% | |
| Q1 2025 | +1.1% | +1.0% | +4.6% | |
| Q4 2024 | -4.0% | -6.4% | -5.5% | |
| Q3 2024 | -9.1% | -8.1% | -14.2% | |
| Q2 2024 | -9.0% | -6.1% | -7.3% | |
| Q1 2024 | -4.4% | -3.0% | -17.4% | |
| Q4 2023 | +5.2% | +2.3% | +5.6% | |
| Q3 2023 | -6.2% | -5.9% | -4.1% | |
| Q2 2023 | -7.4% | -6.4% | -12.3% | |
| Q1 2023 | -1.3% | -2.1% | -5.6% | |
| Q4 2022 | +3.2% | -0.1% | +8.9% | |
| Q3 2022 | +7.5% | -2.0% | +5.4% | |
| Q2 2022 | -4.1% | -2.1% | -7.7% | |
| Q1 2022 | +0.5% | +1.0% | -4.1% | |
| Q4 2021 | -5.0% | -4.4% | -5.6% | |
| Q3 2021 | -4.7% | -3.2% | -4.3% | |
| Q2 2021 | +0.3% | +4.1% | -6.2% | |
| Q1 2021 | +10.4% | +10.8% | +5.3% | |
| Q4 2020 | -0.0% | -3.5% | -4.4% | |
| Q3 2020 | -4.1% | -11.3% | -13.7% | |
| Q2 2020 | -6.3% | -6.8% | -0.2% | |
| Q1 2020 | -0.1% | -0.8% | +2.7% | |
| Q4 2019 | +8.5% | +10.4% | +11.6% | |
| Q3 2019 | -1.7% | -1.3% | +2.0% | |
| Q2 2019 | -1.3% | -2.1% | -1.3% | |
| Q1 2019 | +0.4% | +0.3% | -3.2% | |
| Q4 2018 | -8.0% | -6.7% | -6.2% | |
| Q3 2018 | -4.8% | -3.5% | -4.4% | |
| Q2 2018 | +6.1% | +4.9% | +7.5% | |
| Q1 2018 | +3.8% | +3.8% | +4.0% | |
| Q4 2017 | -5.7% | -6.1% | -9.5% | |
| Q3 2017 | -2.9% | -3.7% | -5.3% | |
| Q2 2017 | +1.4% | +1.1% | -1.4% | |
| Q1 2017 | -4.6% | -4.6% | -6.8% | |
| Q4 2016 | +2.1% | -0.2% | +0.3% | |
| Q3 2016 | -1.4% | — | — | |
| Q2 2016 | +1.7% | — | — | |
| Q1 2016 | +0.5% | — | — | |
| Q4 2015 | -0.5% | — | — | |
| Q3 2015 | -0.5% | — | — | |
| Q2 2015 | +2.2% | — | — | |
| Q1 2015 | -2.4% | — | — | |
| Q4 2014 | +2.4% | — | — | |
| Q3 2013 | +1.6% | — | — | |
| Q3 2014 | +4.6% | — | — | |
| Q2 2014 | +0.3% | — | — | |
| Q1 2014 | -1.8% | — | — | |
| Q4 2013 | -0.9% | — | — | |
| Q2 2013 | -0.6% | — | — | |
| Q1 2013 | +2.6% | — | — | |
| Q2 2012 | -1.4% | — | — | |
| Q4 2012 | +4.4% | — | — | |
| Q3 2012 | -0.2% | — | — | |
| Q1 2012 | -3.6% | — | — | |
| Q4 2009 | -0.1% | — | — | |
| Q2 2011 | -0.1% | — | — | |
| Q4 2010 | -0.1% | — | — | |
| Q4 2011 | -0.1% | — | — | |
| Q3 2011 | -0.8% | — | — | |
| Q3 2010 | -0.8% | — | — | |
| Q1 2011 | +1.9% | — | — | |
| Q1 2010 | +1.9% | — | — | |
| Q2 2010 | +1.9% | — | — |
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