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( 1 ) BROWN - FORMAN ● First Quarter of Fiscal 2022 Highlights Net sales grew 20 % ( + 18 % underlying ) O O BROWN - FORMAN DELIVERS STRONG FIRST QUARTER 2022 RESULTS Louisville , KY , September 1 , 2021 - Brown - Forman Corporation ( NYSE : BFA , BFB ) reported financial results for its first quarter of fiscal 2022 with net sales of $ 906 million increasing 20 % ¹ ( + 18 % on an underlying basis² ) compared to the same prior - year period . In the quarter , operating income decreased 25 % to $ 289 million ( + 15 % on an underlying basis ) and diluted earnings per share declined 41 % to $ 0.40 due to the gain from the sale of the Canadian Mist , Early Times , and Collingwood brands in the prior year . O NEWS RELEASE BROWN - FORMAN BRAND & COMMUNICATIONS Brown - Forman's President and Chief Executive Officer Lawson Whiting stated , “ Brown - Forman delivered a strong start to fiscal 2022. These results were driven by the strength of our portfolio , which benefited from the re - opening of the on - premise , sustained at - home consumption , and continued premiumization trends . " He added , " While we are optimistic the operating environment will continue to improve , we are closely monitoring the potential volatility associated with the evolving pandemic and continued supply chain disruptions . Backed by the strength of our brands and our people , we are confident in our ability to manage our business for the long term . " ROB FREDERICK VICE PRESIDENT O 502-774-7707 SUE PERRAM 1 DIRECTOR INVESTOR RELATIONS 502-774-6862 Strong growth across all geographic clusters and the Travel Retail³ channel Jack Daniel's family of brands net sales grew 20 % ( + 16 % underlying ) Premium bourbons grew net sales 34 % ( + 36 % underlying ) The tequila portfolio grew net sales 32 % ( + 23 % underlying ) Advertising increased 46 % ( + 44 % underlying ) as the company supported brand momentum The company generated strong free cash flow of $ 171 million