Brown-Forman Corporation (NYSE:BF-B) Reports 4Q18 Profit Down 23%; Beats Street View

Brown-Forman Corporation

Brown-Forman Corporation (NYSE:BF-B) headquartered in , announced net income for the fourth quarter of $ 110.00 million or $ 0.23 per share, compared to income $ 144.00 million or $ 0.30 per share for the year-ago quarter.

Analysts from Thomson Reuters expected income of $ 0.22 per share.

Top line figures for the fourth quarter rose 6% to $ 733.00 million from $ 694.00 million in the same quarter last year, where as analysts anticipated $ 754.90 million.

Paul Varga, COE, said, Brown-Forman delivered excellent results in fiscal 2018, driven by underlying net sales growth of 6.5%, which more than doubled fiscal 2017’s rate of growth. Our results demonstrated an excellent balance across both geography and portfolio, while being driven once again by the Jack Daniel’s trademark and our premium American whiskey portfolio.

The company expects next year earnings in a range of $1.75 to $1.85 per diluted share.

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