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Brown-Forman Corporation (NYSE:BF-B) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Brown-Forman Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 17.74% to $0.73 in the quarter versus EPS of $0.62 in the year-earlier quarter.
Revenue: Was the same at $1.03 billion as the year-earlier quarter.
Actual vs. Wall St. Expectations: Brown-Forman Corporation reported adjusted EPS income of $0.73 per share. By that measure, the company beat the mean analyst estimate of $0.70. It missed the average revenue estimate of $1.03 billion.
Quoting Management: Paul Varga, the company’s chief executive officer said, “We continue to be pleased with our top-tier results in this well-performing industry. Our third quarter and year-to-date results reflect the excellent geographic breadth of our company, as well as improved portfolio and volume/margin balance. Given the momentum we observe today for the North American whiskey category, emerging markets, and premium-priced spirits generally, we believe Brown-Forman is positioned well for continued strong growth.”
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