B-F Lowers Guidance Amidst Continued High Comps

Dear Client: Brown-Forman reported net sales growth of 2% for the first half of its fiscal 2024, ended October. This was driven by emerging and developed international markets as well as the travel retail channel, and was partially offset by declines in the US. In Q2, reported net sales were up 1%, as "key drivers" behind B-F's first quarter results "continued into the second quarter," said chief Lawson Whiting on this morning's earnings call.  Some of those key drivers included: