Bulletin
Investor Alert

Market Pulse Archives

March 3, 2022, 7:57 a.m. EST

Jack Daniel's parent Brown-Forman edges past consensus for its fiscal third quarter

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Brown-Forman Corp. Cl B (BF.B)
  • X
    Brown-Forman Corp. Cl A (BF.A)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Ciara Linnane

Jack Daniel's distributor Brown-Forman Corp. /zigman2/quotes/209253695/composite BF.B -0.74% /zigman2/quotes/209049280/composite BF.A -0.41% posted net income of $259 million, or 54 cents a share, for its fiscal third quarter through Jan. 31, up from $219 million, or 45 cents a share, in the year-earlier period. Sales rose 14% to $1.037 billion from $911 million a year ago. The FactSet consensus was for EPS of 52 cents and sales of $1.036 billion. Chief Executive Lawson Whiting said the quarter was hit by supply chain constraints, notably in glass supply. Sales of Jack Daniel's family of brands rose 12% in the year to date, while premium bourbons rose 10%. The tequila portfolio rose 19%, driven by driven by double-digit growth from Herradura and el Jimador. The company said it expects margins to be hurt in the full fiscal year by continued supply chain issues and inflationary pressure. Shares rose 3.5% premarket but are down 7% in the last 12 months, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.16% has gained 15%.

/zigman2/quotes/209253695/composite
US : U.S.: NYSE
$ 75.54
-0.56 -0.74%
Volume: 899,705
Aug. 5, 2022 4:04p
P/E Ratio
43.32
Dividend Yield
1.00%
Market Cap
$35.85 billion
Rev. per Employee
$753,077
loading...
/zigman2/quotes/209049280/composite
US : U.S.: NYSE
$ 73.55
-0.30 -0.41%
Volume: 28,341
Aug. 5, 2022 4:00p
P/E Ratio
42.18
Dividend Yield
1.03%
Market Cap
$35.85 billion
Rev. per Employee
$753,077
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
4,145.19
-6.75 -0.16%
Volume: 2.22B
Aug. 5, 2022 5:04p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.