The acquisitions of Gin Mare and Diplomático contributed to the overall net sales growth for the six months ended October 31, 2023. These acquisitions are part of the company's strategy to expand its portfolio.

The company now expects organic net sales growth in the 3-5% range and organic operating income growth in the 4-6% range for fiscal 2024. This reflects a challenging operating environment.

The company completed the sale of its Finlandia vodka business to Coca-Cola HBC AG for $194 million in cash. This divestiture is part of the company's strategy to optimize its portfolio.

The effective tax rate decreased to 22.4% for the six months ended October 31, 2023, compared to 23.7% in the prior year. This decrease was driven by lower state taxes and the beneficial impact of the foreign-derived intangible income deduction.

Advertising expenses increased by 17% for the six months ended October 31, 2023, driven by increased investment in JDTW, the recently acquired Gin Mare and Diplomático brands, and the launch of Jack Daniel's & Coca-Cola RTD.

Subsequent to the end of the quarter through November 30, 2023, the company repurchased shares for a total cost of $177 million. As of November 30, 2023, approximately $181 million remained available under the program.

The company lists numerous risk factors in its 10-Q filing, including dependence on the Jack Daniel's family of brands, substantial competition, route-to-consumer changes, and disruption of the distribution network.

The company states it faces market risks arising from changes in foreign currency exchange rates, commodity prices, and interest rates. These fluctuations can affect net investments in foreign subsidiaries and foreign currency-denominated cash flows.

The company states that risks associated with acquisitions, dispositions, business partnerships, or investments – such as acquisition integration, termination difficulties or costs, or impairment in recorded value could affect future results.

The company acknowledges substantial competition from new entrants, consolidations by competitors and retailers, and other competitive activities, such as pricing actions, marketing, category expansion, product introductions.

The company states that changes in consumer preferences, consumption, or purchase patterns could affect future results, particularly away from larger producers in favor of small distilleries or local producers, or away from brown spirits, our premium products, or spirits generally.

The company states that a decline in the social acceptability of beverage alcohol in significant markets could affect future results.

The company's gross margin improved by 2.8 percentage points to 61.6% for the six months ended October 31, 2023, driven by favorable price/mix, lower supply chain disruption costs, and lower tariff-related costs.

The company identifies production facility, aging warehouse, or supply chain disruption as a risk factor that could affect future results.

The company identifies higher costs, lower quality, or unavailability of energy, water, raw materials, product ingredients, or labor as a risk factor that could affect future results.

The company identifies unfavorable consumer reaction to new products, line extensions, package changes, product reformulations, or other product innovation as a risk factor.

The company identifies counterfeiting and inadequate protection of our intellectual property rights as a risk factor that could affect future results.

The company identifies cyber breach or failure or corruption of our key information technology systems or those of our suppliers, customers, or direct and indirect business partners, or failure to comply with personal data protection laws as a risk factor.

The company states that capital expenditures are planned to be in the range of $250 to $270 million.

The company states that it generates strong cash flows from operations, which enable it to meet current obligations, fund capital expenditures, and return cash to our stockholders through regular dividends and, from time to time, through share repurchases and special dividends.

As announced on October 2, 2023, the Board of Directors authorized the repurchase of up to $400 million (excluding brokerage fees and excise taxes) of outstanding shares of Class A and Class B common stock from October 2, 2023, through October 1, 2024.

The company identifies product recalls or other product liability claims, product tampering, contamination, or quality issues as a risk factor that could affect future results.

The company identifies negative publicity related to the company, products, brands, marketing, executive leadership, employees, Board of Directors, family stockholders, operations, business performance, or prospects as a risk factor that could affect future results.

The company identifies failure to comply with anti-corruption laws, trade sanctions and restrictions, or similar laws or regulations as a risk factor that could affect future results.

The company states that evolving global macroeconomic conditions continue to create a challenging operating environment tempering our expectations.

The company identifies unfavorable global or regional economic conditions and related economic slowdowns or recessions, low consumer confidence, high unemployment, weak credit or capital markets as a risk factor that could affect future results.

The company identifies changes in laws, regulatory measures, or governmental policies, especially those affecting production, importation, marketing, labeling, pricing, distribution, sale, or consumption of our beverage alcohol products as a risk factor that could affect future results.