Brown-Forman Plummets Most Since 2008 on Weak Earnings (1)

Brown-Forman Corp., owner of the Jack Daniel’s brand, fell the most in more than 15 years after reporting results that trailed expectations while projecting a sales decline for the current fiscal year.

Sales in its fourth quarter sank about 7% to $894 million. Analysts on average estimated $968.4 million.

The company also sees organic net sales, which strip out items such as currency fluctuations, declining in a low-single digit range for the fiscal year that runs through April 2026.

Brown-Forman is anticipating a challenging operating environment this year, “with low visibility due to macroeconomic and geopolitical volatility as we ...