Brown-Forman Fiscal Q4 EPS Meets Views

Brown-Forman Corp. reported a fiscal Q4 adjusted earnings of $0.38 per diluted share compared with an income of $0.40 per share a year ago, in line with the average EPS estimate from analysts polled by Capital IQ. Sales during the three months that ended April 30 fell to $887 million from $933 million a year ago, exceeding the $738.2-million consensus.The company said it expects underlying net sales growth of 4% to 5% in fiscal 2018, helped in part by new products such as Jack Daniel’s Tennessee Rye and Slane Irish Whiskey, as well as seeding of the single malt scotch brands.

The company expects a diluted EPS range of $1.80 to $1.90, which includes a modest negative impact from the setting up of distribution in Spain, a higher tax rate and foreign exchange headwinds. Analysts are expecting FY EPS of $1.87.

By Bucky Rini