Brown-Forman beats earnings and sales expectations, but cuts outlook citing competition and tariffs [MarketWatch]
Brown Forman Inc Class A (BF.A)
US:NYSE Investor Relations:
investors.brown-forman.com/investor-relations
Company Research
Source: MarketWatch
Brown-Forman beats earnings and sales expectations, but cuts outlook citing competition and tariffs Brown-Forman Corp. BF.B, +2.40% reported Wednesday fiscal first-quarter earnings and sales that rose above expectations, but cut its full-year profit outlook citing "intense" competition and recently enacted retaliatory tariffs. The liquor seller's stock was still inactive in premarket trade. Net income for the quarter to July 31 increased to $200 million, or 41 cents a share, from $178 million, or 37 cents a share, in the same period a year ago. The FactSet consensus for earnings per share was 39 cents. Sales increased 6% to $766 million, above the FactSet consensus of $761 million, with the strongest growth in markets outside of the U.S. The company, which liquor brands include Jack Daniels, Finlandia and Korbel, said it now expects fiscal 2019 EPS of $1.65 to $1.75, down from its previous guidance of $1.75 to $1.85. "The global economy has continued to improve over the last year.
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BF.A
Sec Filings
- 4/15/24 - Form 4
- 4/3/24 - Form 3
- 4/3/24 - Form 4
- BF.A's page on the SEC website