Brown-Forman Corporation (BF.B) Q1 2023 Earnings Call Transcript

Brown-Forman Corporation (NYSE:BF.B)

Q1 2023 Earnings Conference Call

August 31, 2022 10:00 AM ET

Company Participants

Sue Perram - Investor Relations

Lawson Whiting - President and Chief Executive Officer

Leanne Cunningham - Senior Vice President and Chief Financial Officer

Conference Call Participants

Andrea Teixeira - JP Morgan

Peter Grom - UBS

Nadine Sarwat - Bernstein

Vivien Azer - Cowen and Company

Chris Pitcher - Redburn

Steven Powers - Deutsche Bank

Kevin Grundy - Jefferies

Presentation

Operator

Good day, thank you for standing by. Welcome to the Brown-Forman’s First Quarter Fiscal Year 2023 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.

I would now like to hand the conference over to your speaker today Sue Perram with Investor Relations. 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 first quarter fiscal year 2023 earnings call. Joining me today are Lawson Whiting, President and Chief Executive Officer; and Leanne Cunningham, Senior 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 first quarter fiscal year 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 and 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 conditions and results of operations are contained in the press release and investor presentaton.