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Stock impact report

Called to Account: Jack Daniel’s maker’s latest earnings are more of the same [MarketWatch]

Brown Forman Inc Class A (BF.A) 
Company Research Source: MarketWatch
Jack Daniel’s maker’s latest earnings are more of the same Brown-Forman Corp., the maker of Jack Daniel’s whiskey, posted second-quarter earnings Wednesday that again included nonstandard metrics that have been criticized by the Securities and Exchange Commission. An examination of the company’s financial results last quarter found the company using adjusted, nonstandard numbers that it failed to reconcile with its standard numbers, making an adjustment for inventory that is not allowed under SEC rules and being inconsistent in its reporting for acquisitions and divestitures. Read: The company that makes Jack Daniel’s is skirting accounting rules, experts say Brown-Forman BF.B, +6.48% said at the time that its nonstandard metrics “assist in understanding both our performance from period to period on a consistent basis, and the trends of our business.” And it said the company fully complies with SEC rules. The company has made no changes to its approach in its second-quarter numb Show less Read more
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