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791 ● BROWN - FORMAN NEWS RELEASE ROB FREDERICK VICE PRESIDENT BROWN - FORMAN BRAND & O Louisville , KY , March 3 , 2021 - Brown - Forman Corporation ( NYSE : BFA , BFB ) reported financial results for its third quarter and nine months ended January 31 , 2021. For the third quarter , the company's reported net sales¹ of $ 911 million increased 1 % ( flat on an underlying basis² ) compared to the same prior year period . In the quarter , reported operating income decreased 8 % to $ 281 million ( -8 % on an underlying basis ) and diluted earnings per share declined 5 % to $ 0.45 . O LEANNE CUNNINGHAM SENIOR VICE PRESIDENT SHAREHOLDER RELATIONS OFFICER 502-774-7707 502-774-7287 COMMUNICATIONS For the first nine months of the fiscal year , the company's reported net sales of $ 2,649 million were flat ( + 2 % on an underlying basis ) compared to the same prior - year period . Year - to - date reported operating income increased 10 % to $ 998 million ( + 3 % on an underlying basis ) and diluted earnings per share grew 12 % to $ 1.63 . O BROWN - FORMAN DELIVERS RESILIENT YEAR - TO - DATE PERFORMANCE IN A CHALLENGING ENVIRONMENT Brown - Forman's President and Chief Executive Officer Lawson Whiting stated , " We remain pleased with our year - to - date underlying net sales growth , particularly when considering the unprecedented and challenging operating environment . Importantly , we remain focused on executing our long - term strategic priorities and our commitment to be better and do better as individuals and as a company . Our strategic priorities have enabled us to build strong business momentum during the COVID - 19 crisis and we believe they remain the right strategies to deliver broad - based growth and value creation over the long term . " Year - to - Date Fiscal 2021 Highlights Underlying net sales grew 2 % ( flat reported ) . The United States and our developed international markets each grew underlying net sales 7 % ( + 3 % and + 10 % reported , respectively ) , while underlying net sales in our emerging markets grew 1 % ( -8 % reported ) . Jack Daniel's family of brands underlying net sales grew 2 % ( -2 % reported ) driven primarily by growth from Jack Daniel's RTDs³ , Jack Daniel's Tennessee Apple , Jack Daniel's Tennessee Honey , and Gentleman Jack . These gains were partially offset by a reduction in Jack Daniel's Tennessee Whiskey's underlying net sales . Premium bourbons grew underlying net sales 21 % ( + 18 % reported ) , with both Woodford Reserve and Old Forester maintaining strong double - digit growth . The tequila portfolio grew underlying net sales 6 % ( + 2 % reported ) led by strong volume - driven increases from New Mix in Mexico . Diluted earnings per share increased 12 % to $ 1.63 . 1