Brown-Forman (BF.A, BF.B) reported fiscal Q2 earnings Thursday of $0.47 per diluted share, compared with $0.55 a year earlier.

Analysts surveyed by FactSet expected $0.46.

Net sales for the quarter ended Oct. 31 were $1.04 billion, compared with $1.10 billion a year earlier. Analysts surveyed by FactSet expected $1.2 billion.

The company reiterated its guidance for fiscal 2026 organic net sales to decline in the low-single digit range.

Brown-Forman shares were down 0.9% in premarket trading.