Brown-Forman Corp. (BF-B) Misses Q1 EPS by 2c; Reaffirms FY15 Outlook

Brown-Forman Corp. (NYSE: BF-B) reported Q1 EPS of $0.70, $0.02 worse than the analyst estimate of $0.72. Revenue for the quarter came in at $921 million versus the consensus estimate of $947.9 million.

Paul Varga, the company’s chief executive officer, said, “As anticipated, our first quarter growth came in lower than what we achieved during fiscal 2014 and our expectations for fiscal 2015, due largely to pricing decisions that resulted in distributor and retail inventory reductions in the United States and Europe. We anticipate higher rates of sales growth over the balance of the year, led by Jack Daniel’s and our portfolio of premium whiskey brands. We reaffirm our full-year guidance and our expectations of 9-11% underlying operating income growth in fiscal 2015.”

For earnings history and earnings-related data on Brown-Forman Corp. (BF-B) click here.

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