Brown-forman (BF-B) Misses Q2 EPS by 7c; Trims FY15 EPS Outlook on FX Impact

Brown-forman (NYSE: BF-B) reported Q2 EPS of $0.97, $0.07 worse than the analyst estimate of $1.04. Revenue for the quarter came in at $1.14 billion versus the consensus estimate of $1.15 billion.

Paul Varga, the company’s chief executive officer, said, "Brown-Forman's top-tier underlying results in the first half were roughly in-line with our expectations, despite the backdrop of a tough trading environment for our industry. As anticipated, underlying net sales growth accelerated in our second quarter, and we believe that underlying trends remain favorable as we head into the important holiday selling season."

Varga added, "While we have updated our guidance to reflect the significant impact expected from adverse foreign exchange, we still anticipate growing both underlying net sales and underlying operating income within the range provided in our original full-year outlook."

Brown-forman sees FY2015 EPS of $3.15-$3.35, versus the consensus of $3.36. Guidance incorporates an anticipated negative impact from foreign exchange of approximately $0.15 per share compared to the first quarter outlook for a $0.06 per share negative impact from foreign exchange.

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

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