Brown-Forman backs FY26 organic revenue view down low-single digits

Backs FY26 organic operating income down low-single digits. Backs FY26 effective tax rate view 21%-23%. Cuts FY26 capital expenditures view to $110M-$120M from $125M-$135M. The company said, “We continue to anticipate the operating environment for fiscal 2026 to be challenging, with low visibility due to macroeconomic and geopolitical volatility as we face headwinds from consumer uncertainty and lower non-branded sales of used barrels. We remain focused on building our business for the long term and navigating the current environment at pace with strategic initiatives in fiscal 2026 that we believe will unlock future growth led by the significant evolution of our U.S. distribution, the restructuring initiative, and meaningful new product innovation.”