Brown-Forman’s Dividend Growth Depends on a Recovery that Has Yet to Materialize
Brown-Forman (BF-B) reported mixed Q1 2027 results: revenue fell 1% to $911M, operating income dropped 3% to $252M, but EPS rose 6% to $0.38. The company maintained its dividend at $0.231 per share, yielding 3.5%. Management forecasts flat organic sales and a 3-5% decline in organic operating income for 2027. The stock trades at a forward P/E of 15.55x, with a dividend covered by free cash flow.

