Fewer Americans consuming alcohol
Only 54% of Americans said they consume alcohol, according to a Gallup poll published last August—a record low since polling began in 1939—as health concerns around even moderate drinking continue to grow. Beer also remains the beverage of choice for most Americans. According to the poll, about 38% of American drinkers said they prefer beer, compared to just 30% who said they prefer liquor.
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Tangent
Thursday’s results were Brown-Forman’s first posted since two proposed mergers with other beverage giants fell apart earlier this year. Sazerac tried to purchase the Jack Daniel’s maker for $15 billion, but Brown-Forman reportedly rejected the deal earlier in May. France’s Pernod Ricard, the maker of the popular absinthe brand, also approached Brown-Forman for a possible merger, but the companies said they terminated discussions in April. Brown-Forman’s stock price was trading at $25.29 per share on Thursday, slightly up after the fiscal report. However, it’s still below the $28.46 intraday high reported in March while the merger discussions were ongoing.
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Key Background
Whiskey manufacturers in the U.S. posted steep export declines in 2025, according to a report from the Distilled Spirits Council in March. Whiskey exports fell by about 19%, and was attributed to a 35% export reduction to the European Union.
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