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Sentiment · FY2026 Q2
| Analyst | Firm | Questions | ChallengePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|---|
| Nadine Sarwat | Bernstein | 5 | 20% |
| Filippo Falorni | Citigroup | 5 | 20% |
| Peter Grom | UBS | 4 | 25% |
| Lauren Lieberman | Barclays | 4 | 25% |
| Eric Serotta | Morgan Stanley | 3 | 0% |
| Kevin Grundy | BNP Paribas | 3 | 67% |
| Bonnie Herzog | Goldman Sachs | 3 | 67% |
| Andrea Pistacchi | Bank of America | 2 | 0% |
| Rob Ottenstein | Evercore ISI | 2 | 0% |
| Drew Levine | JPMorgan | 2 | 0% |
| 4 |
| 25% |
| Morgan Stanley | 1 | 3 | 0% |
| Bank of America | 2 | 3 | 0% |
| BNP Paribas | 1 | 3 | 67% |
| Goldman Sachs | 1 | 3 | 67% |
from $30.11 T+2 open (first actionable price)
Brown-Forman's Q2 FY2026 continued the challenging trend with revenue down 4.9% and EPS declining 14.6%, generating a -1 eps_adjustment on margin compression. Emerging international markets grew 12% and Jack Daniel's Blackberry exceeded expectations with a global rollout begun, but used barrel sales declined more than 60% and Canada organic net sales crashed over 60% with products off shelf. Trade-down signals emerged at higher price points for the first time, though U.S. organic net sales were flat and closing the gap with TDS.
Competitive Dynamics | Revenue Growth | Demand | Inventory | Geographic Expansion | Pricing | Trade Tariffs | Margin | |
|---|---|---|---|---|---|---|---|---|
| 2025Q2 | 3 | 4 | 1 | 3 | 1 | 2 | 1 | |
| 2025Q3 | 3 | 3 | 2 | 3 | 1 | 1 | 2 | |
| 2025Q4 | 4 | 1 | 3 | 1 | 1 | 1 | ||
| 2026Q1 | 3 | 2 | 2 | 3 | 2 | 2 | 2 | |
| 2026Q2 | 3 | 3 | 4 | 2 | 2 | 3 | 2 |
| '25Q2 | '25Q3 | '25Q4 | '26Q1 | '26Q2 | |
|---|---|---|---|---|---|
| Competitive Dynamics | 3 | 3 | 4 | 3 | 3 |
| Revenue Growth | 4 | 3 | 1 | 2 | 3 |
| Demand | 1 | 2 | 3 | 2 | 4 |
| Inventory | 3 | 3 | 3 | 2 | |
| Geographic Expansion | 1 | 1 | 1 | 2 | 2 |
| Pricing | 1 | 1 | 2 | 3 | |
| Trade Tariffs | 2 | 2 | 1 | ||
| Margin | 1 | 2 | 2 |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
BF-B Brown–Forman | 3 | -4.9% | |
| STZ Constellation Brands | 3 | -11.3% |