Brown-Forman Corporation primarily manufactures, distills, bottles, imports, exports, markets, and sells a wide variety of beverage alcohol products under recognized brands. The company employs approximately 5,700 people across six continents. According to International Wine & Spirit Research (IWSR), Brown-Forman is the largest American-owned spirits and wine company with global reach. The Brown family owns more than 50% of the company's voting stock, making it a "controlled company" under New York Stock Exchange rules.

• Employees: 5,700 (approximately, excluding part-time or temporary)
• Geographic Footprint: Six continents
• Headquarters: Louisville, Kentucky, USA
• Founded: 1870 (as a partnership), 1933 (incorporated in Delaware)
• Revenue: $4.2 billion (FY2024)
• Key Subsidiaries/Brands: Jack Daniel's, Woodford Reserve, Old Forester, Herradura, el Jimador, The Glendronach, Glenglassaugh, Benriach, Diplomático, Gin Mare

• CEO: Lawson E. Whiting (since January 2019)
• CFO: Leanne D. Cunningham (since March 2023)
• Chief Brands Officer: Matias Bentel (since March 2023)
• General Counsel and Secretary: Michael E. Carr, Jr. (since May 2024)
• Chief Strategic Growth Officer: Marshall B. Farrer (since March 2024)
• Chief People, Places, and Communications Officer: Kirsten M. Hawley (since March 2023)
• President Emerging International: Thomas W. Hinrichs (since March 2023)
• Chief Global Supply Chain and Technology Officer: Timothy M. Nall (since March 2023)
• President, Europe: Yiannis Pafilis (since March 2024)
• Chief Inclusion and Global Community Relations Officer: Crystal L. Peterson (since March 2023)
• President USA & Canada: Jeremy J. Shepherd (since March 2023)
• Chief Accounting Officer: Kelli N. Brown (since August 2018)

• Annual Revenue: $4.2 billion (FY2024)
• Net Income: $1.0 billion (FY2024)
• Total Assets: $8.2 billion (as of April 30, 2024)
• Key Financial Highlights:
  • Gross margin increased to 60.5% in fiscal 2024, up 1.5 percentage points from 59.0% in fiscal 2023.
  • Operating income increased by 25% compared to fiscal 2023.
  • Diluted earnings per share increased by 32% compared to fiscal 2023.
  • Return on average invested capital increased to 17.3% in fiscal 2024, compared to 15.3% in fiscal 2023.

Brown-Forman offers a diverse portfolio of beverage alcohol products, including:

• Whiskey: Jack Daniel's family of brands, Woodford Reserve, Old Forester, The Glendronach, Glenglassaugh, Benriach, Slane Irish Whiskey, and Coopers' Craft.
• Ready-to-Drink (RTD): Jack Daniel's RTD products, New Mix, and other RTD/RTP products.
• Tequila: el Jimador, Herradura, and other tequilas.
• Wine: Korbel California Champagnes.
• Other Spirits: Diplomático, Chambord, Gin Mare, Korbel Brandy, and Fords Gin.

The company operates as a single operating segment. Net sales are reported by geographic area, with the United States accounting for 45% of net sales in fiscal 2024. Other key markets include Mexico, Germany, Australia, and the United Kingdom. The company's distribution network varies by market, including owned distribution, partner distribution, and government-controlled markets.

Brown-Forman's strategy focuses on building brands and creating stockholder value responsibly by delivering strong, sustainable growth, solid margins, and high returns on invested capital. Key strategic initiatives include:

• Growing the premium spirits portfolio organically and through innovation.
• Opportunistically considering acquisitions and partnerships.
• Emphasizing fast-growing spirits categories and product innovation.
• Increasing emphasis on inclusive, digital, and integrated marketing.
• Expanding e-commerce capabilities.
• Improving routes to consumers outside the United States.
• Committing to environmental sustainability and alcohol responsibility.

Brown-Forman operates in the highly competitive global beverage alcohol industry. The company competes against major global players, regional brands, and local craft brands. Key competitive factors include brand recognition, product quality, availability, flavor profile, and price. The company believes its competitive position is strong, particularly in brand awareness, quality, availability, and relevance of new product introductions. The company is one of the largest global suppliers of premium spirits.

• Brand Health: The company's business performance depends substantially on the continued health of the Jack Daniel's family of brands.
• Distribution and Competition: Changes to route-to-consumer models and consolidation among beverage alcohol producers, distributors, wholesalers, suppliers, and retailers could hinder the marketing, sale, or distribution of products.
• Consumer Preferences: Changes in consumer preferences and purchases, any decline in the social acceptability of our products, or governmental adoption of policies disadvantageous to beverage alcohol could negatively affect our business results.
• Supply Chain: Production facility disruption or the inherent uncertainty in supply/demand forecasting could adversely affect the business. Higher costs or unavailability of water, raw materials, product ingredients, or labor could adversely affect financial results.
• Global Operations: The global business is subject to commercial, political, and financial risks.