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June 5, 2019, 8:04 a.m. EDT

Jack Daniel's parent Brown-Forman beats profit expectations, but sales comes up shy

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By Tomi Kilgore

Brown-Forman Corp. /zigman2/quotes/209253695/composite BF.B +2.43% /zigman2/quotes/209049280/composite BF.A +1.74% reported a fiscal fourth-quarter profit that rose above expectations, while sales came up short, as whiskey, premium bourbon and tequila sales increased while vodka sales fell. The stock was still inactive in premarket trading. Net income for the quarter to April 30 rose to $159 million, or 33 cents a share, from $110 million, or 23 cents a share, in the year-ago period. The FactSet consensus for earnings per share was 30 cents. Net sales grew 1% to $744 million, below the FactSet consensus of $762 million. As reported Jack Daniel's brand sales rose 1%, sales of premium bourbon, which includes Woodford Reserve and Old Forester, grew 19% and el Jimador sales rose 8%, while Finlandia sales fell 4%. For fiscal 2020, the company said it expects EPS of $1.75 to $1.85, which surrounds the FactSet consensus of $1.80. The stock has gained 8.5% year to date, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.06% has rallied 11.8%.

/zigman2/quotes/209253695/composite
US : U.S.: NYSE
$ 66.14
+1.57 +2.43%
Volume: 1.15M
Nov. 19, 2019 6:30p
P/E Ratio
38.76
Dividend Yield
1.00%
Market Cap
$31.58 billion
Rev. per Employee
$689,375
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/zigman2/quotes/209049280/composite
US : U.S.: NYSE
$ 62.52
+1.07 +1.74%
Volume: 21,694
Nov. 19, 2019 6:30p
P/E Ratio
36.64
Dividend Yield
1.06%
Market Cap
$29.86 billion
Rev. per Employee
$689,375
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/zigman2/quotes/210599714/realtime
US : S&P US
3,120.18
-1.85 -0.06%
Volume: 1.92B
Nov. 19, 2019 5:10p
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