Brown-Forman Corporation (BF.B) Q3 2023 Earnings Call Transcript

Brown-Forman Corporation (NYSE:BF.B) Q3 2023 Results Conference Call March 8, 2023 10:00 AM ET

Company Participants

Sue Perram - VP and Director, IR

Lawson Whiting - President and CEO

Leanne Cunningham - EVP and CFO

Conference Call Participants

Vivien Azer - Cowen

Drew Levine - JP Morgan

Nadine Sarwat - Bernstein

Stephen Powers - Deutsche Bank

Filippo Falorni - Citibank

Kevin Grundy - Jefferies

Brett Cooper - Consumer Edge Research

Lauren Lieberman - Barclays

Operator

Good day. And thank you for standing by. Welcome to the Third Quarter and Year-to-Date Fiscal '23 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.

And I would now like to hand the conference over to your speaker today, Ms. Sue Perram, Vice President and Director of Investor Relations. Ms. Perram Please go ahead.

Sue Perram

Thank you, and good morning, everyone. I would like to thank each of you for joining us today for Brown-Forman's third quarter and year-to-date fiscal 2023 earnings call. Joining me today are Lawson Whiting, President and Chief Executive Officer; and Leanne Cunningham, Executive Vice President and Chief Financial Officer.

This morning's conference call contains forward-looking statements based on our current expectations. Numerous risks and uncertainties may cause actual results to differ materially from those anticipated or projected in these statements.

Many of the factors that will determine future results are beyond the Company's ability to control or predict. You should not place undue reliance on any forward-looking statements, and except as required by law, the Company undertakes no obligation to update any of these statements, whether due to new information, future events or otherwise. This morning, we issued a press release containing our results for the third quarter and nine months ended January 31, 2023, in addition to posting presentation materials that Lawson and Leanne will walk through momentarily. Both the release and the presentation can be found on our website under the section titled Investors, Events & Presentations.

In the press release, we have listed a number of the risk factors you should consider in conjunction with our forward-looking statements. Other significant risk factors are described in our Form 10-K and Form 10-Q reports filed with the Securities and Exchange Commission.

During this call, we will be discussing certain non-GAAP financial measures. These measures are reconciliation to the most directly comparable GAAP financial measures and the reasons management believes they provide useful information to investors regarding the Company's financial condition and results of operations are contained in the press release and investor presentation.